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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Politics & Government
8:48 am
Wed October 1, 2014

New NC Laws On Coal Ash, Drones And Taxes Go Into Effect Today

Under a new NC law, an unmanned aircraft can’t be used for secret surveillance or to take pictures for mass circulation without the subjects’ permission.
Credit Chris Goldberg / Flickr/Creative Commons

A series of laws passed by the General Assembly this summer will go into effect today, affecting areas of construction, pollution and privacy. The variety in legislation reflects the broad reach of the state House and Senate this year.

Coal Ash

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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
11:48 am
Thu July 31, 2014

NC House Committee Slams 'Closing Fund' For Economic Development, Recommends Historic Tax Credits

A tobacco warehouse in Durham. The House finance committee recommended on Wednesday that North Carolina continue to offer tax breaks to owners who who rehabilitate historic industrial structures.
Credit Flickr

While General Assembly leaders are in the final stages of sending Gov. Pat McCrory a state budget, they're rushing to wrap up bills on taxes and economic development.

Republican and Democratic representatives grilled Commerce Secretary Sharon Decker on Wednesday, asking why the governor wants to create  a $20 million "closing fund" to bring business to North Carolina.

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Politics & Government
5:00 am
Wed July 30, 2014

Sales Tax, Firearms, Ag Complaints: NC House, Senate Still At Work

A sylo in Swannaona, NC
Credit Flickr

North Carolina House and Senate leaders say they've finalized details for public school teacher pay raises and the state's budget, but lawmakers are rushing to tackle other issues ranging from sales taxes to farm pollution.

The Senate has already given its approval for the North Carolina Farm Act, and the House is giving it a closer look in its agriculture committee yesterday and its finance committee today.

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Politics & Government
6:23 am
Tue July 22, 2014

NC Senate Committe Relaxes Restrictions On Proposed County Tax Legislation

A Senate committee is scheduled to vote Tuesday morning on a measure that would limit sales taxes to 7.5 percent.
Credit Walmart via Flickr

A North Carolina Senate committee is scheduled to vote Tuesday morning on a measure that would restrict how much counties can raise their sales taxes and what they can spend the revenue on.

The Senate finance committee approved last week a bill that would allow counties to raise their sales taxes by a half-percent -- and to use the new revenue for either schools or for transportation costs.

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Politics & Government
8:31 am
Fri June 27, 2014

Iron Man 3, Hunger Games, Homeland, And The Tax Incentives To Film Them In NC

The TV show Homeland, and the movies Iron Man 3 and the Hunger Games were filmed in North Carolina.
Credit Showtime, Marvel Studios, Lionsgate

North Carolina could see fewer hits like Iron Man 3 or Homeland filmed in the state. That’s because tax incentives that encourage the film industry to make movies here are set to expire in January. Some lawmakers are trying to pass a measure that would give grants to the film industry to keep production companies here. But while budget negotiations are underway, time is running out to pass legislation.

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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
9:08 am
Mon May 12, 2014

Fayetteville Considers A Tax Hike To Cut Crime

Fayetteville is weighing the possibility of raising property taxes to pay for more crime-fighting measures.
Credit Alejandro Mejía Greene/JubiloHaku / Flickr

Fayetteville's city leaders are considering a property tax hike to fight crime. 

Officials say the proposed budget would raise taxes an average of $60 per year on a $150,000 house. 

Mayor Nat Robertson said the money would be used to put more officers on the street. 

“Our chief of police has asked us for 67 new employees,” Robertson said. “That includes 50-some-odd credentialed employees and support staff for them.”

Robertson stressed the spending plan is just a proposal, so far. 

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Politics & Government
9:22 am
Thu January 2, 2014

Sales Tax Jumps For Manufactured Homes

The T-Ranch manufactured home from Royal Homes starts in the low $100s.
Credit Royal Homes in Raleigh

Mobile and modular homes have traditionally been a top choice for lower-income home buyers.  But the New Year has brought higher taxes for these properties.

The sales tax will jump about two-fold for those buying a modular home.   Sonny Bannister is president of Royal Homes in Raleigh.

"We've been aware of the pending increase for about 90 days and we've been warning our customers of the potential of an increase since that time," said Bannister.

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