Taxes

Business & Economy
10:57 am
Mon January 21, 2013

OBX Sees Record Number of Turtles AND Tourist Revenue

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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Politics & Government
10:30 am
Thu December 13, 2012

Orange, Durham To Start Collecting Transit Tax

Orange County Commissioners have given final approval to levy a half-cent sales tax for transit projects starting this Spring. Commissioners decided this week to collect the tax beginning on April 1. Voters in Orange County approved the tax on a ballot referendum in November. Durham residents did the same last year and will start paying the tax at the same time. Revenue goes toward a $1.4 billion plan from Triangle Transit Authority to expand bus services and build a light rail line from UNC Hospitals to downtown Durham.

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Politics & Government
6:10 am
Thu November 15, 2012

NC US Senators Say Close Tax Loopholes

North Carolina’s two US Senators agree eliminating tax loopholes should be part of the equation as congress works to avoid the so-called fiscal cliff. Congress has to decide whether tax cuts should be extended for any Americans and if automatic cuts to federal government should be partially or completely stopped. Democratic U.S. Senator Kay Hagan supports reduced spending and changes to the tax code.

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Politics & Government
6:10 am
Fri October 26, 2012

Orange County Voters Consider Sales Tax Increase For Transportation

Orange County voters will decide whether to support a tax increase for public transportation on Election Day. The measure is part of a regional plan to improve transit across the Triangle.

Voters in Orange County will choose whether to vote for a half-cent sales tax increase on November sixth. If they approve the measure, the tax would generate about five million dollars a year for new buses and improved service, an Amtrak station in Hillsborough and a proposed light rail connection from UNC to downtown Durham.

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Politics & Government
6:25 am
Fri September 28, 2012

Group Urges Reforms Of Sales Tax

A new report from the North Carolina Budget and Tax Center says it’s time for the state to collect a more reliable revenue source than the sales tax.

The sales tax is 30-percent of North Carolina’s total tax revenue – that’s about six billion dollars.  But – the non-profit Budget and Tax Center says the state needs to broaden its tax structure.  Alexandra Sirota is director of the Budget and Tax Center. She says it’s time to tax services to help raise revenue instead of counting so heavily on material goods.

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Politics & Government
6:10 pm
Mon July 9, 2012

Hagan Pushing Tax Breaks For Small Businesses

With Congress back in session U.S. Senator Kay Hagan is touting a bill she says will help small businesses. Jeff Tiberii reports.

Jeff Tiberii: The Small Business Jobs and Tax Relief Act of 2012 is expected to come up for a vote this week. Hagan says the legislation has bipartisan support and will accomplish two things.

Kay Hagan: The first is an income tax credit on new payroll. And this is either through hiring new people or increasing current wages and there will be a 10-percent income tax credit to the small businesses.

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Politics & Government
5:45 am
Thu February 2, 2012

Legislators Discuss Repealing Estate Tax

Republican leaders in the state legislature are considering measures that could end the estate tax for North Carolinians. The Revenue Laws Study Committee met today to discuss taxes in the state. The committee plans to hold a full discussion on repealing the estate tax at its next meeting. Republican Senator Robert Rucho is a co-chair of the committee.

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Law
6:00 am
Wed May 18, 2011

Easley's Former Aide Sentenced

A top aide to former Governor Mike Easley has been sentenced to a year in prison for failing to report a thirty thousand dollar profit on his taxes.

 U.S. District Court Judge Terence Boyle sentenced 39-year-old Ruffin Poole to 12 months in prison. He must also pay a thirty thousand dollar fine. Investigators found that Poole used his position as the former governor's aide to speed up the environmental permitting process at a new development in Carteret County.

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Politics & Government
5:00 am
Wed March 9, 2011

Sales Tax A Key Part Of Budget Debate

Whether to continue a temporary increase in the sales tax is a key point of debate between legislative Republicans and Democratic Governor Bev Perdue as they work to close the gap in the state budget. Jessica Jones reports.

North Carolina is facing one of the largest potential budget shortfalls in its history. Right now it amounts to 2.4 billion dollars, but that number could change. Two years ago, the Democratic-controlled legislature enacted temporary tax increases- including a one cent sales tax increase- to help balance the state budget. But Republican leaders who’re now in control say they don’t need the tax increase this time.

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Politics & Government
6:35 am
Wed March 2, 2011

Future Of Earned Income Tax Credit In Doubt

Advocates for women's and children's issues gathered at the General Assembly yesterday. One bill they oppose is a change to the state's earned income tax credit.

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