A pro-business state shouldn’t tax businesses for existing
A recent Tax Foundation report identified the franchise tax as North Carolina’s “single largest structural weakness.”
Distilled spirits and beer taxes in NC rank fifth and sixth highest nationwide respectively.
If Raleigh is a true major-league market, it should attract major-league private investment. Let owners own the risk, let fans buy the tickets, and let NC taxpayers keep their money.
As lawmakers finalize the details of that budget, I hope they take one more factor into consideration: NC is not adequately prepared for another natural or economic disaster.
US SBA regional administrator Tyler Teresa visited Little Richards Barbeque in Winston-Salem to highlight the Trump administration’s Working Family Tax Cuts and their impact on small businesses during the height of filing season.
While keeping tax rates low on high-income earners may seem like sacrificing tax revenue in the short term, it makes sense over the long term.
While still ranking as a top state for business and tax competitiveness, NC risks falling behind other states if it stands still.
The Fair Tax Act is currently in Congress, with 14 House sponsors (including Rep. Mark Harris of North Carolina) and the endorsement of over 80 economists.
North Carolina’s biggest remaining obstacle to greater competitiveness is its franchise tax.
The 23-member committee is tasked with reviewing factors that contribute to rising local property taxes and identifying ways to reduce the burden on homeowners.
North Carolina has one of the best-performing economies in the country. We also have one of the country’s most competitive tax codes. That’s no coincidence. Tax reform has served our state well. According to a just-released study by the Tax Foundation, North Carolina’s overall tax system is the 13th-most competitive in the country and third-best...
As the single “largest barrier to the state’s tax competitiveness,” the index encourages reforms to North Carolina’s franchise tax.