Opinion
One tax reform NC should finish in 2026
North Carolina’s biggest remaining obstacle to greater competitiveness is its franchise tax.
Opinion
End North Carolina’s franchise tax to spur growth
By repealing the franchise tax in 2025, state lawmakers can cement the legacy of the transformative tax reform of the past 12 years.
Opinion
Let’s talk taxes — the right way
State and local taxes across the country consume an average of 11.2% of income. North Carolina’s combined tax burden is 9.9%
Opinion
On tax reform, set firm priorities
Negotiators from the North Carolina House and Senate are current hashing out a compromise budget for the fiscal year that begins in July. One of the sticking points, it seems, is how best to build on the state’s impressive record of tax reduction and reform. Before the Republicans won their legislative majorities in 2010, North...
Opinion
Reopen N.C.: Four proposals for lifting tax burdens on workers and business
North Carolina’s economy has been devastated by the decisions of Gov. Roy Cooper and state and local officials in their attempt to ameliorate the effects of COVID-19. To enforce social distancing rules, politicians outlawed a number of occupations and businesses. Included in these restrictions are restaurants and restaurant workers, beauty salons and barbershops, specialty stores,...
News
Film tax credit provision kills proposed franchise tax cut
A corporate tax cut expected to pass at the end of the General Assembly’s session surprisingly wound up on the cutting room floor. The House Finance Committee killed a franchise tax reduction bill Wednesday, Oct. 30, even though Republicans, who hold the majority, previously supported it. The bill was complicated by an unrelated provision added...
Opinion
N.C. franchise tax: It’s time to reconsider
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...
News
Senate’s Tax Proposals Mostly Draw Kudos
RALEIGH — The bill would lower the franchise tax rate — imposed on all businesses in North Carolina — from $1.50 per $1,000 to $1.35 per $1,000. It would raise the minimum franchise tax from $35 to $200. For holding companies, the bill would double the maximum franchise tax from $75,000 to $150,000.
