North Carolina Reports & Information

NEWS & MEDIA

The Latest News from CTJ's Tax Justice Blog

• Razzle Dazzle Can't Conceal Expensive, Regressive Tax Plan in North Carolina - 05/2013
• State News Quick Hits: Kansas Named Worst in the Nation for Taxes, and More - 04/2013
• State News Quick Hits: Promoting Tax Justice in the States on April 15 - 04/2013



ITEP in the News

• The Progressive Pulse: Blowhard lobbyist for corporations and the rich in town to promote tax increases on average North Carolinians - 05/2013
• WFAE: N.C. GOP Leaders Unveil Plan To Cut, Expand Taxes - 05/2013
• Charlotte Observer: On N.C. state sales tax, a special deal for many businesses - 04/2013
• WFAE: As N.C. Considers Tax Overhaul, How Does Current System Work? - 02/2013
• Charlotte Observer: State Sen. Bob Rucho says North Carolina tax system needs an overhaul - 02/2013



ITEP Numbers and Reports

• North Carolina Justice Center: Profiles in corporate tax avoidance- Merck - 04/2013
• North Carolina Justice Center: Profiles in corporate tax avoidance- Duke Energy - 04/2013
• North Carolina Justice Center: First Comprehensive Tax Legislation Would Not Protect Low- and Middle-Income Taxpayers from Tax Increases - 04/2013
• Who Pays? (Fourth Edition) - 01/2013
• More Inaccuracies, Bigger Omissions: Arthur Laffer's Newest Study of Income Tax Repeal Falls Short - 01/2013






RESOURCES




State Tax & Revenue Information

• North Carolina Department of Revenue Reports and Statistics
• North Carolina Office of State Budget and Management



Tax Expenditure Reports

• North Carolina Biennial Tax Expenditure Report



State Statutes & Legislation

• North Carolina General Assembly - General Statutes
• North Carolina Legislation



State Tax Forms

• North Carolina Tax Forms





ORGANIZATIONS



• North Carolina Budget and Tax Center

North Carolina
By the Numbers

Below is a snapshot of key features of North Carolina's tax system. (Scroll Down) State & Local Revenue (FY10) General Revenue, Own-Source (GROS): $50.0 billion General Revenue as a Share of Income: 15.3% Tax Revenue: $32.7 billion Tax Revenue as Share of income: 10.0% Personal Income Tax (Share of Tax Revenue): 27.9% (6 out of 51) Corporate Income Tax (Share of Tax Revenue): 4.0 % ( 11 out of 51) Sales & Excise Tax (Share of Tax Revenue): 36.0 % ( 22 out of 51) Property Tax (Share of Tax Revenue): 26.2 % ( 40 out of 51) Other Taxes (Share of Tax Revenue): 4.1 % (31 out of 51) Personal Income Tax Features (2012) Range of Tax Rates: 6.0% - 7.75% Standard Deduction: $3,000 ($6,000 for Married Couples) Personal Exemption: $2,500 Dependent Exemption: $2,500 Earned Income Tax Credit (EITC): 5% Refundable Personal exemption phases out for high income levels Corporate Income Tax Features (2012) Range of Tax Rates: 6.90% Income Level at Which Top Rate Applies: All Combined Reporting: No Apportionment Factor (Payroll): 25% Apportionment Factor (Property): 25% Apportionment Factor (Sales): 50% Sales Tax Features (2012) State Sales Tax Rate: 4.75 Average Local Sales Tax Rate: 2.10% Average Combined State & Local Sales Tax Rate: 6.85% State Sales Tax Treatment of Groceries: Exempt Local Sales Tax Treatment of Groceries: Taxed Number of Services Taxed: 57 out of 168 surveyed Streamlined Sales Tax Membership: Full "Amazon law" in effect Sales tax holiday offered in 2012 Property Tax Features (2012) Does not provide a meaningful homestead exemption or circuit breaker for non-elderly taxpayers. Levies a car tax. Comparatively low property taxes. Other Tax & Revenue Features (2012) Gasoline Tax Rate (per gallon): $0.378 Diesel Tax Rate (per gallon): $0.378 Cigarette Tax Rate (per pack): $0.45 Estate or Inheritance Tax: Yes Net Lottery Sales Per Capita: $139 Tax Policy Oversight Tax Expenditure Report: Yes Tax Incidence Analysis Capability: Personal income tax only Last Updated October 4, 2012 Sources & Glossary