North Carolina tax system

Local News
3:44 pm
Mon December 8, 2014

NC Grows Its Pot Of Money Despite Losing Revenue

  North Carolina's main pot of money increased about 19 percent during the last fiscal year despite a decrease in revenues. That's according to the state controller's annual financial report released Monday.

You know how when revenues are down, a business can still turn a profit if it cuts expenses? That's basically what North Carolina did with its General Fund, the pot of money the state uses to pay for most of its programs.

For the fiscal year that ended in June, North Carolina's revenues came in about $450 million short of projections.

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Local News
5:03 pm
Thu November 13, 2014

NC Tax Revenue Down Through First Third Of Fiscal Year

Credit Alan Cleaver / Flickr

North Carolina's tax revenues are down almost $400 million compared to the same period last year. That's according to a report the Office of the State Controller released Thursday on the first four months of the state's fiscal year.

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Local News
9:40 am
Wed July 17, 2013

Who's Happy, Mad And Meh On N.C. Tax Overhaul?

Taxes in North Carolina are going to change. The North Carolina House and Senate on Tuesday tentatively passed tax overhaul legislation, and Governor Pat McCrory says he'll sign it.

As lawmakers have considered multiple approaches to changing the state's tax system over the past few months, a variety of people and organizations have swooned over or screamed against the proposals.

So now that Republican leaders have agreed on a final plan, who loves it, who hates it, and who's mixed on it? 


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Local News
11:31 am
Wed July 3, 2013

N.C. Senate Passes Tax Overhaul

Now the North Carolina House and Senate have passed their own plans to overhaul the state's tax system. The Senate gave final approval to its version Wednesday morning.


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Local News
1:05 am
Wed July 3, 2013

N.C. Senate Gives Tentative OK To Tax Overhaul

The North Carolina Senate tentatively passed a bill today to overhaul the state's tax code.

The Senate worked through four earlier versions of a tax overhaul before settling on this one. The fifth edition is much closer to the bill that passed the House, and Senate Republican Leader Phil Berger says that's the point.

"There's been a good deal of work done on trying to find some common ground on where the Senate was and where the House has been," Berger said on the Senate floor Tuesday.

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Politics
6:02 pm
Mon June 10, 2013

New Details On NC House Budget

North Carolina House Republicans presented Monday afternoon their proposed budget for the next two years. In total, the budget spends $20.6 billion.

“In the first year we spend around $12 million less than the Senate and around $188 million less than the governor,” said Rep. Nelson Dollar, the chairman of the House Appropriations Committee.

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Local News
5:05 pm
Mon June 10, 2013

NC Tax Proposals Could Hurt Nonprofits

North Carolina State Legislative Building
Credit Jayron32 of English Wikipedia

  Proposals to overhaul North Carolina's tax code could discourage people from giving to charities, turn nonprofits into tax collectors, and make it more difficult for some organizations to provide services. Those are a few concerns the N.C. Center for Nonprofits raised Monday.


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Local News
3:09 pm
Fri June 7, 2013

N.C. House Moves First On Tax Overhaul

Credit Alan Cleaver / Flickr

The North Carolina House tentatively passed its version of a tax overhaul Friday. The Republican bill is one of three major tax overhauls the General Assembly is considering. 

Republicans and some Democrats in the state legislature agree North Carolina needs to do something about its tax code. The current one is based off a model from the Great Depression, and it includes the highest income tax rates in the Southeast.

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Local News
4:47 pm
Fri May 31, 2013

N.C. Considers Three Tax Proposals

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.

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Local News
5:13 pm
Tue May 7, 2013

N.C. GOP Leaders Unveil Plan To Cut, Expand Taxes

Senate leader Phil Berger

"The largest tax cut in North Carolina history." That's how Republican state senate leaders describe the tax plan they unveiled Tuesday. But that plan also expands the sales tax to many more services.


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