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North Carolina has excess revenue because the state has reduced what it has historically spent as a share of the state economy – a drop from 5.8 percent to 4 percent – and because of a strong ...
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 ...
Charlotte and Mecklenburg County are proposing a 1% increase to the already existing 1% tax on food and beverage sold within the county. [3] The request is being made in an effort to fund a renovation project for the Carolina Panthers, the National Football League team located within the city limits. [3]
Richland voters will be asked to approve a two-tenths of a percent sales tax increase on Feb. 12, 2025, to support construction of an $81 million, 800-seat performing arts center near the Reach ...
A Trump-era tax law is poised to alter how companies account for research and development expenses. Business leaders say the implications are serious. NC business leaders warn new federal tax rule ...
A sales tax is a tax paid to a governing body for the sales of certain goods and services. Usually laws allow the seller to collect funds for the tax from the consumer at the point of purchase. When a tax on goods or services is paid to a governing body directly by a consumer, it is usually called a use tax. Often laws provide for the exemption ...
South Carolina tax-free weekend. North Carolina may no longer do tax-free weekends, but just south of Charlotte in South Carolina, they’re still an annual occurrence. In 2022, the state’s tax ...
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 ...