Taxes

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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Politics & Government
4:03 pm
Wed August 21, 2013

Wake GOP Opposes Local School And Transportation Bonds

The Wake County GOP says it's opposed to a $75 million Raleigh transportation bond and a $810 million Wake Schools bond going to the ballot in October.
Credit Dave DeWitt

The Wake County Republican Party is opposing bond referendums for Raleigh transportation and public school construction projects. 

Voters will decide in October whether to approve $75 million in improvements to sidewalks and roads as well as traffic calming projects in Raleigh.  The Wake GOP executive committee says it voted to oppose that bond due to the city's accumulating debt. 

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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

Leoneda Inge reports on NC's new corporate tax rate.

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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The State of Things
10:55 am
Fri July 19, 2013

Tax Reform, Budget March Through General Assembly

North Carolina Legislature passes a tax reform bill.
Credit W Edward Callis III

Experts discuss the newly passed North Carolina Tax bill reform

This week the General Assembly passed a tax reform bill that sets the stage for the state’s budget. The bill, while sweeping, wasn’t as broad as GOP lawmakers originally wanted. A budget agreement is expected to be reached today with details emerging over the weekend.

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Business & Economy
5:00 am
Fri July 19, 2013

Sales Tax Holiday On The Chopping Block

A provision in the bill would eliminate the annual sales tax holiday.
Credit Laura Candler

North Carolina's annual sales tax holiday will end if a bill to overhaul the tax code becomes law.  A provision in the proposal eliminates the sales tax-free weekend that usually happens in early August, starting next year.

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The State of Things
12:18 pm
Thu July 18, 2013

Lawmakers Reach Agreement on Tax Reform

North Carolina legislative building
Credit Wikimedia Commons

Host Frank Stasio talks to WUNC Capitol Bureau Chief Jessica Jones about tax reform.

The North Carolina General Assembly finally pushed through its tax reform bill, though it’s not nearly as bold as originally proposed. Both personal and corporate income taxes will go down.

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