Business Taxes

The State of Things
12:23 pm
Thu October 16, 2014

Utility Companies Could Keep Fees Despite Corporate Tax Breaks

Credit http://www.flickr.com/photos/dukeenergy/11441208065/

  

Private utilities charge their customers a small monthly fee to compensate for the corporate income tax they pay.

The North Carolina General Assembly cut that tax in its latest session, and the state Utilities Commission originally ordered a smaller fee to reflect the changes. But the commission recently reversed that, saying companies could go back to charging at the higher rate and keep the extra money.

Their decision led to a rare, strongly-worded dissent from the commissioners who voted against it.

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The State of Things
11:48 am
Thu September 4, 2014

An Investigative Report Documents Cheaters Costing North Carolina Hundreds of Millions of Dollars

Photo of corner of Trust and Belief from News and Observer's Contracted to Cheat series.
Credit TRAVIS LONG — tlong@newsobserver.com

A yearlong investigative report by The News & Observer and The Charlotte Observer documents that North Carolina has lost nearly a half-billion dollars each year uncollected state and federal tax revenue from the misclassification of workers. 

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Politics & Government
8:55 pm
Thu May 15, 2014

NC House Members May Consider Lowering Local Business Tax, Classifying E-Cigs As Non Tobacco

Mack MckLamb, president of Dunn-based grocery chain Carlie C’s, testified before lawmakers this year saying the Local Privilege License Tax unpredictable across the state. 'We operate sixteen stores in 12 different cities that have 12 different methods to do it,' he said.
Credit Charlie C's

Some North Carolina lawmakers want to limit a tax cities can charge local businesses.

State lawmakers have been trying to resolve this for more than 10 years: A tax that businesses have to pay cities to set up shop there.

On Thursday, a committee sent a bill to the House of Representatives limiting the tax to $100.

But some cities say that cuts an important source of revenue. Charlotte, for instance, would lose more than $8 million.

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Politics & Government
5:20 pm
Tue April 15, 2014

NC Governor Lauds State's Tax Overhaul To 'Build North Carolina's Future'

Credit NC Governor's Office

Governor Pat McCrory held a press conference today to celebrate a new report suggesting the state's economy is benefiting from tax cuts enacted last year.

The conservative American Legislative Exchange Council's "Rich States, Poor States" report ranks North Carolina sixth in the nation for its economic outlook.

McCrory says lowering corporate income taxes in particular has encouraged companies to move to the state.

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Politics & Government
10:47 pm
Tue January 14, 2014

NC Grocery Store Owners Look For Reprieve From Local Tax

Mack MckLamb, president of Dunn-based grocery chain Carlie C’s, told lawmakers on Monday the Local Privilege License Tax unpredictable across the state. 'We operate sixteen stores in 12 different cities that have 12 different methods to do it,' he said.
Credit Charlie C's

The legislative committee that reviews North Carolina’s tax laws debated on Monday a tax that cities and towns levy on businesses to allow them to operate within their municipality limits.

The tax, which state lawmakers have tried to change at least five times in the last 10 years, allows local governments to charge companies a flat rate or a percentage of their revenues. It includes retailers but exempts businesses such as insurance and law offices.

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Business & Economy
10:00 am
Fri July 26, 2013

How Good Is North Carolina’s Business Climate?

Small businesses in Brightleaf Square shopping center.
Credit Laura Candler

It depends on what you consider good for business. If you head to the North Carolina Department of Commerce’s website, you can see many of the positive rankings North Carolina has received from business media outlets: No. 1 Best Business Climate from Site Selection in 2012, No. 4 Best State for Business by Forbes in 2012, No. 4 America’s Top States for Business by CNBC in 2012.  Most of the organizations doing the ranking look at a similar group of factors, although they each give those factors different weight in their decisions.

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Business & Economy
7:45 am
Fri July 26, 2013

Will NC's New Business Tax Rate Equal New Business?

Gov. McCrory was on hand when Lenovo officially opened its first US manufacturing plant in Whitsett.
Credit State of North Carolina

North Carolina Gov. Pat McCrory signed major tax reform legislation into law this week, keeping one of his most ardent campaign promises. 

The governor and his conservative Republican base have consistently said North Carolina would be better able to attract business to the state with lower taxes.

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