Tax Relief in North Carolina
Issue Overview: North Carolina's Business Tax Climate ranking by the Tax Foundation dropped from No. 30 in 2004 to No. 37 in 2007. North Carolina's low ranking compares more to states like New York and California than with neighboring Virginia and South Carolina.
NFIB Position: Tax relief continues to be among the top issues concerning NFIB's small-business members, who are more than ready for much-needed relief.
Issue Status: Tax-relief measures will likely be introduced during the 2007 session of the North Carolina General Assembly. From indications during the 2006 session, small business was encouraged that many legislators seemed ready to address the existing tax burden in a bipartisan effort. NFIB will closely monitor this issue and will seek both corporate and personal income tax relief to help sustain job growth and reinvestment.
What to Do: When legislation is introduced, contact your lawmakers and urge them to support both personal and corporate tax relief. Find your legislators at http://www.ncleg.net.
What to Say: Tell them that these tax reductions are crucial for North Carolina's small-business community. Tell them tax relief is a key component that enable you to add jobs and address infrastructure needs, and in some cases, to survive.
