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Results found for "personal income"


Ten years ago, in July of 2013, the Republican-led General Assembly enacted historic tax reforms. Perhaps most notably, lawmakers overhauled the state’s personal income tax, moving from a progressive multi-tiered structure to a flat, simple rate.
Ten years ago, in July of 2013, the Republican-led General Assembly enacted historic tax reforms. Perhaps most notably, lawmakers overhauled the state’s personal income tax, moving from a progressive multi-tiered structure to a flat, simple rate.
 
The new proposed tax cut schedule would lower the personal income tax rate to 2.49% after 2026.
Published: Tuesday, May 2nd, 2023 @ 5:00 pm By: Carolina Journal
The new proposed tax cut schedule would lower the personal income tax rate to 2.49% after 2026.
 
The NC Senate signaled their intentions Wednesday to aggressively lower the state’s personal income tax rate.
The NC Senate signaled their intentions Wednesday to aggressively lower the state’s personal income tax rate.
 
State government tax revenues have well-exceeded expectations this fiscal year, WRAL reported. Personal income and sales and use tax revenues were $766 million and $330 million above projections, respectively.
State government tax revenues have well-exceeded expectations this fiscal year, WRAL reported. Personal income and sales and use tax revenues were $766 million and $330 million above projections, respectively.
 
Personal income tax rates would be slashed and the corporate tax rate entirely eliminated by 2028 under a proposal rolled out on Tuesday, May 25, by N.C. Senate Republicans.
Personal income tax rates would be slashed and the corporate tax rate entirely eliminated by 2028 under a proposal rolled out on Tuesday, May 25, by N.C. Senate Republicans.
 
Every North Carolinian who pays personal income tax would see a lower rate, under a proposal from legislative Republicans.
Every North Carolinian who pays personal income tax would see a lower rate, under a proposal from legislative Republicans.
 
Would North Carolina be a better place without an income tax? A recent Bankrate.com article compared the nine states that forgo broad-based personal income taxes with the rest of the country on economy, population, and jobs
Would North Carolina be a better place without an income tax? A recent Bankrate.com article compared the nine states that forgo broad-based personal income taxes with the rest of the country on economy, population, and jobs
 
A last-minute change to Senate Bill 325 - which originally would have lowered state personal and business income taxes - instead became the vehicle to change early voting hours and days
A last-minute change to Senate Bill 325 - which originally would have lowered state personal and business income taxes - instead became the vehicle to change early voting hours and days
 
Voters will decide this fall whether North Carolina taxpayers should receive protection in the state constitution against the state taxing more than 7 percent of their personal income
Voters will decide this fall whether North Carolina taxpayers should receive protection in the state constitution against the state taxing more than 7 percent of their personal income
 
The $23.9 billion state General Fund budget proposal reduces personal and corporate income taxes and increases education spending by nearly $700 million
The $23.9 billion state General Fund budget proposal reduces personal and corporate income taxes and increases education spending by nearly $700 million
 
Gov. Roy Cooper unveiled a $24.5 billion state General Fund budget for 2018-19 that freezes scheduled drops in corporate and some personal income tax rates
Gov. Roy Cooper unveiled a $24.5 billion state General Fund budget for 2018-19 that freezes scheduled drops in corporate and some personal income tax rates
 
Since I and other Republicans gained control of the General Assembly in 2011, the Assembly has championed the philosophy of cutting taxes - thus a lower sales tax rate, personal income tax rate and corporate tax rate on North Carolina families and businesses, while raising the standard deduction for
Published: Thursday, February 1st, 2018 @ 3:07 pm By: Bill Cook
Since I and other Republicans gained control of the General Assembly in 2011, the Assembly has championed the philosophy of cutting taxes - thus a lower sales tax rate, personal income tax rate and corporate tax rate on North Carolina families and businesses, while raising the standard deduction for
 
Most reports about the recently passed federal tax plan have included a line about the near doubling of the standard personal income tax deduction
Most reports about the recently passed federal tax plan have included a line about the near doubling of the standard personal income tax deduction
 
True, longtime Raleigh News & Observer political columnist Rob Christensen might have written his latest piece before reading last week’s Carolina Journal Daily Journal on recent progressive changes to North Carolina’s personal income tax
True, longtime Raleigh News & Observer political columnist Rob Christensen might have written his latest piece before reading last week’s Carolina Journal Daily Journal on recent progressive changes to North Carolina’s personal income tax
 
Senate leaders are proposing a $1 billion middle class tax reduction plan that would lower personal and corporate income taxes, increase mortgage interest deductions, and allow for unlimited medical and charitable tax deductions
Senate leaders are proposing a $1 billion middle class tax reduction plan that would lower personal and corporate income taxes, increase mortgage interest deductions, and allow for unlimited medical and charitable tax deductions
 
Since Governor Pat McCrory entered office in January 2013, North Carolina's economy added 300,000 new jobs, the state experienced one of the largest drops in unemployment in the country, $2.6 billion in debt for federal unemployment insurance was paid off, personal income and business taxes were cut
Since Governor Pat McCrory entered office in January 2013, North Carolina's economy added 300,000 new jobs, the state experienced one of the largest drops in unemployment in the country, $2.6 billion in debt for federal unemployment insurance was paid off, personal income and business taxes were cut
 
The evidence is undeniable: North Carolina has outperformed regional and national averages in most standard measures of economic growth, including job creation, gross domestic product, and personal income, since conservatives took control of state government
The evidence is undeniable: North Carolina has outperformed regional and national averages in most standard measures of economic growth, including job creation, gross domestic product, and personal income, since conservatives took control of state government
 
State Sen. Jerry Tillman, R-Randolph, said the Senate will push again in the next legislative session to pass a constitutional amendment lowering the cap on the personal income tax rate from 10 percent to 5.5 percent.
State Sen. Jerry Tillman, R-Randolph, said the Senate will push again in the next legislative session to pass a constitutional amendment lowering the cap on the personal income tax rate from 10 percent to 5.5 percent.
 
Political progressives aren't the only ones who see value in adding more "progressivity" to the state's personal income tax. A Republican-sponsored bill that won unanimous support last week in the N.C. Senate would accomplish that goal
Political progressives aren't the only ones who see value in adding more "progressivity" to the state's personal income tax. A Republican-sponsored bill that won unanimous support last week in the N.C. Senate would accomplish that goal
 
One of the architects of North Carolina's recent tax reforms wants to lower the maximum rate of personal income tax allowed by the state constitution
One of the architects of North Carolina's recent tax reforms wants to lower the maximum rate of personal income tax allowed by the state constitution
 
In 2013, Governor Pat McCrory and the General Assembly instituted historic tax reform by reducing the personal income tax for all North Carolinians, reducing the corporate tax rate, and eliminating the death tax
In 2013, Governor Pat McCrory and the General Assembly instituted historic tax reform by reducing the personal income tax for all North Carolinians, reducing the corporate tax rate, and eliminating the death tax
 
North Carolina residents could receive a larger personal income tax exemption if the General Assembly's 2016 short session follows the lead of state Sen. Bob Rucho, R-Mecklenburg, who has led the Senate's tax reform efforts since Republicans took control of that body
North Carolina residents could receive a larger personal income tax exemption if the General Assembly's 2016 short session follows the lead of state Sen. Bob Rucho, R-Mecklenburg, who has led the Senate's tax reform efforts since Republicans took control of that body
 
Freedom plays a critical role in boosting economic growth and personal income, including the incomes of the poorest members of society
Freedom plays a critical role in boosting economic growth and personal income, including the incomes of the poorest members of society
 
Countering arguments that Medicaid expansion would benefit North Carolina's economy, a new report from the national group State Budget Solutions estimates that expansion actually would lead to a $6.4 billion hit in future personal income growth.
Countering arguments that Medicaid expansion would benefit North Carolina's economy, a new report from the national group State Budget Solutions estimates that expansion actually would lead to a $6.4 billion hit in future personal income growth.
 
North Carolina's law mandating electric utilities to increase their use of renewable energy sources has caused the loss of nearly 24,000 jobs, $14.4 billion in forgone personal income, and will boost ratepayers' annual bills by $149 million.
North Carolina's law mandating electric utilities to increase their use of renewable energy sources has caused the loss of nearly 24,000 jobs, $14.4 billion in forgone personal income, and will boost ratepayers' annual bills by $149 million.
 
Taxes are the primary source of income for the state of North Carolina. While many of us focus on the larger taxes, such as personal income, we must remember there are multiple sources of tax income the state uses to fund its daily functions.
Taxes are the primary source of income for the state of North Carolina. While many of us focus on the larger taxes, such as personal income, we must remember there are multiple sources of tax income the state uses to fund its daily functions.
 
The military supports 540,000 jobs, including 340,000 in the private sector, according to a new report released today by the N.C. Department of Commerce. The report also found the military boosts the state's personal income by more than $30 billion.
The military supports 540,000 jobs, including 340,000 in the private sector, according to a new report released today by the N.C. Department of Commerce. The report also found the military boosts the state's personal income by more than $30 billion.
 
Part of my job involves commissioning, reading, interpreting, and writing about public policy research. As I began researching my 2012 book on North Carolina's economy, Our Best Foot Forward, I found myself reading or re-reading dozens of scholarly studies, published in academic or professional...
Part of my job involves commissioning, reading, interpreting, and writing about public policy research. As I began researching my 2012 book on North Carolina's economy, Our Best Foot Forward, I found myself reading or re-reading dozens of scholarly studies, published in academic or professional...
 
North Carolina's tax reform package, cutting the personal income tax rate, is the most significant plan likely to be approved in 2013, an analyst with...
North Carolina's tax reform package, cutting the personal income tax rate, is the most significant plan likely to be approved in 2013, an analyst with...
 
The North Carolina Senate Finance Committee today introduced a tax reform package that eliminates the corporate tax, lowers and flattens personal income taxes, and eliminates the sales tax on food.
The North Carolina Senate Finance Committee today introduced a tax reform package that eliminates the corporate tax, lowers and flattens personal income taxes, and eliminates the sales tax on food.
 
The state Senate, amid a rift among the chamber's leadership, gave its initial approval Thursday to a tax reform bill that would establish a flat tax, lower personal income taxes, and phase out the corporate income tax.
The state Senate, amid a rift among the chamber's leadership, gave its initial approval Thursday to a tax reform bill that would establish a flat tax, lower personal income taxes, and phase out the corporate income tax.
 
Senate Republicans pushed ahead Wednesday with their version of tax reform as the chamber's Finance Committee gave the bill a thumbs up. The measure...
Senate Republicans pushed ahead Wednesday with their version of tax reform as the chamber's Finance Committee gave the bill a thumbs up. The measure...
 
Senate leader Phil Berger unveiled the latest tax reform plan Tuesday. It's a plan that would reduce the personal income tax, eventually eliminate...
Senate leader Phil Berger unveiled the latest tax reform plan Tuesday. It's a plan that would reduce the personal income tax, eventually eliminate...
 
Senate leaders used a Tuesday press conference to announce their long-awaited tax proposal, a proposal that would lower personal and corporate income tax...
Senate leaders used a Tuesday press conference to announce their long-awaited tax proposal, a proposal that would lower personal and corporate income tax...
 
Lawmakers agree they want to lower personal and corporate income tax rates while expanding the tax base to include a wider range of sales and service taxes, but the devil is in tax reform details.
Published: Thursday, May 2nd, 2013 @ 11:42 pm By: Tom Campbell
Lawmakers agree they want to lower personal and corporate income tax rates while expanding the tax base to include a wider range of sales and service taxes, but the devil is in tax reform details.
 
A pro-growth tax reform including elimination of state personal and corporate income taxes has garnered significant attention in North Carolina over the last several weeks.
A pro-growth tax reform including elimination of state personal and corporate income taxes has garnered significant attention in North Carolina over the last several weeks.
 
As you may know, the John Locke Foundation has just published a new book - First in Freedom: Transforming Ideas into Consequences for North Carolina - that proposes a new tax system for our state.
As you may know, the John Locke Foundation has just published a new book - First in Freedom: Transforming Ideas into Consequences for North Carolina - that proposes a new tax system for our state.
 
Efforts are under way to make North Carolina the first state since Alaska in 1980 to eliminate taxes on total personal income.
Efforts are under way to make North Carolina the first state since Alaska in 1980 to eliminate taxes on total personal income.
 
The drumbeat for tax reform in 2013 is growing louder with each passing day, but ask those beating the drums what they mean by reform and you get very different answers.
The drumbeat for tax reform in 2013 is growing louder with each passing day, but ask those beating the drums what they mean by reform and you get very different answers.
 
North Carolina was once a growth champion of the national economy. Between 1981 and 1999, North Carolina's average personal income growth was the 4th fastest in the nation.
North Carolina was once a growth champion of the national economy. Between 1981 and 1999, North Carolina's average personal income growth was the 4th fastest in the nation.
 

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