Tag:tax cut

  • Senate passes sweeping tax cut package with 8 Democrats on board

    The North Carolina Senate passed a Republican-led tax reform package Wednesday evening in a quick, 36-14 vote that drew eight Democrats to cross the aisle and vote in favor of the bill. House Bill 334 would raise the standard deduction from $21,500 to $25,500 for joint filers, which would…

  • Unemployment Insurance Surplus = $560 Million Tax Cut

    RALEIGH — Gov. Pat McCrory on Thursday announced that the state’s unemployment reserve fund has ballooned to $1 billion, meaning that businesses across North Carolina will see the surcharges on their state unemployment taxes drop in January, resulting in more than a half-billion dollars in tax relief.