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The North Carolina Department of Revenue was created in 1921 by the North Carolina General Assembly. The department is headed by a Secretary that is appointed by the Governor. The secretary is a member of the North Carolina Cabinet. Currently, the department is responsible for administering the collection of the North Carolina state income tax ...
The tax is only imposed by local jurisdictions upon the granting of approval by the North Carolina General Assembly. The provision is found in G.S. 105-164.3(28) and reads as follows: [ 1 ] 28) Prepared food.
Economy of North Carolina. In 2019, North Carolina's total gross state product was around $591 billion. According to the Bureau of Economic Analysis, the state's 2010 total gross state product was $424.9 billion, making it the ninth wealthiest state in terms of gross domestic product. [1] Its 2007 per capita personal income was $33,735, placing ...
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North Carolina has a state-levied sales tax of 4.75%, effective July 1, 2011, with most counties adding a 2% tax, for a total tax of 6.75% in 51 of the 100 counties. Mecklenburg and Wake counties levy an additional 0.5% tax, which is directed towards funding the light rail system, for a total of 7.25% and the total sales tax in 45 other ...
Amazon only agreed to collect the 6.6% state sales tax, but there was no requirement to collect local sales taxes, which can bring total tax close to 10%. [16] This was an agreement between Amazon and Arizona, which mainly centered on Amazon's tax obligations because it maintains warehouses in Arizona.
The North Carolina State Treasurer is a statewide elected office in the U.S. state of North Carolina responsible for overseeing the financial operations of state government. The current state treasurer is Dale Folwell. The office of state treasurer has existed since 1715 in the Province of North Carolina; at that time, the treasurer was ...
A local option sales tax is often used as a means of raising funds for specific local or area projects, such as improving area streets and roads, or refurbishing a community's downtown area. LOSTs are always appended onto a state's base sales tax rate, most commonly at a rate of 1%. For example, in Iowa, the base sales tax rate is 6% statewide ...