Legislators should maintain the plan to eliminate the corporate income tax in 2030 and begin to phase out programs that provide corporate welfare.
North Carolina is projected to rank No. 12 in the nation for the largest economic loss under Kamala Harris’ proposed corporate tax increase, according to a new report from the Tax Foundation.
Phasing out North Carolina’s corporate income tax over the next few years will generate economic benefits far greater than the apparent fiscal cost.
North Carolina’s franchise tax is a punitive and opaque tax levied on businesses organized under one of the usual corporate forms, primarily C-Corps and S-Corps. It is inconsistent with both good economics and good government. Most of the problems associated with the corporate income tax are also present in the franchise tax. But it goes...
North Carolina’s corporate tax rate is dropping. That will bring more jobs and higher incomes for North Carolinians, as well as greater transparency in taxation.
Corporate taxes don’t just reduce after-tax dividends and capital gains to shareholders. They also reduce worker pay.
it’s worth taking a moment to underline a key area of agreement: that North Carolina’s corporate-income tax is burdensome, complex, and harmful to the state’s economy.
America’s relatively high tax rate on corporate income is one reason why American corporations are more highly leveraged than are many of their competitors.
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