Study: NC gains a new resident every 7 minutes
NC is the third most popular destination state in the country, behind Texas and Florida. South Carolina and Tennessee round out the top five.
The proposed constitutional amendment limits annual taxable value increases on primary residences to the lower of 3% or CPI, and the total increase to 20%.
Perhaps a middle ground can be found between the House and Senate tax plans, like replacing the three 0.5 percentage point reductions with six 0.25 percentage point reductions spread over the same eight-year period.
Across-the-board tariffs and the uncertainty they create undermine that stability, making it harder for state budget writers to project revenues and plan responsibly.
Legislators should maintain the plan to eliminate the corporate income tax in 2030 and begin to phase out programs that provide corporate welfare.
This week's likely vote on Robert F. Kennedy Jr. to head the US Department of Health and Human Services presents an opportunity and challenge for North Carolina's agriculture industry. As the new Trump administration dawns in Washington, its policies will impact this number one industry in North Carolina, valued at $111.1 billion.
Rep. Erin Paré, R-Wake, has signed on as a primary sponsor to all three bills, telling the Carolina Journal that "Republicans are pretty united on always wanting to look for ways to lessen the tax burden on North Carolinians."
Key tax breaks and spending controls will be expiring all at the same time, rushing us toward a fiscal cliff. It’s the biggest issue no one is talking about right now.
On Wednesday, Senate Leader Phil Berger, R-Rockingham, and Senate Finance Committee chairs Sens. Bill Rabon, R-Brunswick, and Paul Newton, R-Cabarrus, filed legislation to cut North Carolina’s personal income tax rate to below 2.5% by 2026. Senate Bill 651, also known as “Tax Relief For All,” is the Senate’s latest measure to alleviate the tax burden...
North Carolina ranks 5th in the nation for conservative policy outcomes in 2021, according to a review due out in November, and the shift can be a factor in drawing new residents.
The state Senate plan offers much more aggressive tax relief for North Carolinians.
Recent op-eds and editorials from the News & Observer have lambasted the state legislature’s plan to use a budget surplus to cut taxes. Similarly, Patrick Conway, an economics professor at UNC-Chapel Hill, and Wesley Harris, an economist and a Democratic member of the state House of Representatives recently argued that the Republicans have neglected more...