Taxes

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

A sweeping reform of the tax code in North Carolina is poised to move to the Senate. The plan would reduce personal and corporate income tax while expanding the reach of sales tax.

NC House
Jessica Jones

House legislators have passed a tax reform plan in a committee hearing that would establish a flat personal income tax.

House Bill 998 is one of three competing proposals to reform North Carolina's tax code. Republican representative David Lewis is the bill's main sponsor.

State Senate chamber
Dave DeWitt

State lawmakers have formally laid out three competing plans to reform North Carolina's tax code.

They've filed three bills that would all lower sales and income tax rates. The measures would all expand the sales tax base by broadening it to include more services. But each plan features different details.

The anti-tax advocate, Grover Norquist, visited state legislators today to praise their efforts to lower personal and corporate income taxes.

NC Legislative building
NC General Assembly

Lawmakers in the state Senate have unveiled more details of their proposal to overhaul the state's tax code, though they haven't filed a bill yet. They propose lowering income tax rates significantly over the next three years. They also seek to lower the combined local and state sales tax to 6.5 percent.

It’s Tax Day and many people are hoping for tax refunds.  But will they save it or spend it?   The waiting room was full on Friday at the taxpayer assistance center at Northgate Mall in Durham. Tradell Adkins was there.

“Every year I try to say I’ll get it done around January, February, at the latest March.  But it always ends up being in April," says Adkins.

North Carolina House of Representatives, North Carolina General Assembly
www.ncleg.net

State lawmakers have tentatively approved a measure that would end a popular tax credit for low and middle-income residents.  House legislators passed the bill 75 to 41 yesterday.

It would allow the state's earned income tax credit to expire after this year as scheduled. Most low and middle-income families who qualify don't receive the maximum rebate of $294. But it's a popular policy, especially among families whose meager paychecks make it a struggle to save money.

The Consumer Financial Protection Bureau is piloting a new tax preparation initiative in three US cities - and Durham is one of them. The new initiative is called “Ready, Set, Save.”  And it’s targeted to households who qualify for the Earned Income Tax Credit – primarily moderate to low income households with children. Tiki Windley is a Program Manager at MDC in Durham.

A battle over changing the tax code is looming in Raleigh. Some Republicans want to eliminate personal and corporate income tax. Democrats and a key member of Governor McCrory's staff call the proposal a regressive tax on the middle class and poor.

Host Frank Stasio talks taxes and other stories with Chris Fitzsimon of North Carolina Policy Watch; and Mitch Kokai with the John Locke Foundation.

Dare County brought in a record amount of occupancy taxes in 2012 while a record number of sea turtles nested on Cape Hatteras National Seashore.  Numbers from the Outer Banks Visitors' Bureau show Dare County collected $382 million in occupancy taxes through November of 2012 compared to $367 million during the same period the year before.  The county levies the tax on hotels, motels and beach houses.  At the same time, park rangers reported a record 222 sea turtle nests in 2012. 

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