Cut taxes

NC General Assembly

A plan moving through the state legislature could cost City of Charlotte coffers $8.5 million in local business taxes.

North Carolina lawmakers and Governor Pat McCrory are considering three different bills to overhaul the state's tax system. Republican leaders in the Senate introduced the latest and most ambitious one Thursday. There's also a bipartisan Senate plan and a Republican House plan.

Governor Pat McCrory and state lawmakers are considering major changes to North Carolina's tax structure. So we decided to take a closer look at a report released Wednesday detailing the effective tax rates currently in place. It's from the liberal-leaning Institute on Taxation and Economic Policy in Washington, D.C.