North Carolina has over-collected more than $6 billion in state taxes when compared to May of 2020 economic forecasts. This according to data just presented to members of the Joint Full Chairs Appropriations Finance Committee by the nonpartisan Fiscal Research Division at the General Assembly and the Office of State…
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…
A proposed tax cut from Senate Republicans would move North Carolina to fifth in the state business tax climate rankings, the Tax Foundation says. North Carolina, now 10th, ranked 46th when Republicans took control of the General Assembly in 2011. The Tax Foundation…
Thanks to conservative leadership in the General Assembly oriented towards sustained spending restraint, lawmakers are well-positioned to enact this legislation.
North Carolina, per-capita, is one of the most rural states in the country and would be disproportionally impacted by a new mileage tax scheme.
The EITC reduces market wages, leads people to work fewer hours, is costly to administer, and is so complex that it makes excess payments to some taxpayers while keeping others from getting their full benefits.
In states that do tax income, 16 have lower rates than North Carolina. …
It’s not too late to save our state’s unique free enterprise protections from a future as meaningless surplusage.
North Carolina now consistently ranks among the best states in which to do business.
A recent examination by the Tax Foundation shows North Carolina’s high net migration rate may be due to its friendly tax climate. The nonprofit, nonpartisan group annually examines migration trends, using data from United Van Lines, the largest moving company in…
