North Carolina voters could decide in 2026 whether to lower the state income tax cap from 7% to 3.5%.
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.
Like his predecessor, North Carolina's new governor attempts to hide a proposed tax hike behind misleading language.
State and local taxes across the country consume an average of 11.2% of income. North Carolina’s combined tax burden is 9.9%
Last week the non-partisan Fiscal Research Division of the North Carolina General Assembly forecast yet another $1 billion+ surplus in anticipated tax revenues for the 2024–2025 fiscal year. That’s on top of the $400+ million in surplus collections for the 2023-2024 fiscal year. The news, the latest in a decade-long run of tax revenue surpluses,...
I started my first business at age 22 and have worked for myself since then. Thirty-five years later, one of the biggest expenses for my company is still insurance. As a staunch advocate for North Carolina individuals, entrepreneurs, and small businesses, I believe it is crucial to immediately address one of the financial burdens weighing...
Since Republican lawmakers won majorities in both houses of the General Assembly in 2010, they’ve been reforming North Carolina’s tax system. They’ve broadened the bases of state taxes, reduced tax rates, diminished or eliminated special-interest tax breaks, and simplified the code. As a result, virtually all North Carolinians are keeping more of what they earn...
The N.C. House budget plan would increase the standard and child deductions.
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...
Governor Roy Cooper’s new proposed budget for fiscal years 2023-2025 is a tone-deaf proposal for North Carolina’s tax code. Instead of continuing with the tax decreases that were already signed into law in a previous budget, Cooper is proposing that we freeze the tax rate at the current 4.75%. Cooper’s reasoning is that further tax...
Changing state law to raise future tax rates amounts to a tax increase. That's true, regardless of the governor's spin.
