Lower taxes for North Carolina? Kinda

by

2 comments

Wait for the "but" ...

North Carolina's Senate Democrats are set to consider a plan Wednesday that would change the state's tax system by reducing overall rates but adding taxes to many services for the first time.

The Senate Finance Committee is expected to receive a proposal that would lower the sales tax rate people pay in most counties from 6.75 percent to 6 percent and reduce corporate and individual income tax rates, according to a document highlighting the potential changes obtained by The Associated Press. The 2 percent tax on food at grocery stores and other retailer also would be repealed, the document said

But the proposal, which will serve as a template for Senate leaders seeking to reform the tax system this year, also would place the sales tax on a host of services, including building repairs, warranties, information technology, moving expenses and sales of downloaded music and software.

Read the rest of this WRAL.com article here.