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New pro-business tax study outlines four big proposals

A pro-business group is releasing a study Monday that outlines four options for overhauling taxes in North Carolina -- the latest proposal in the mix ahead of the legislative session.

The Tax Foundation study was commissioned by the Carolina Business Coalition -- a limited government, low-taxation interest group whose board includes former Republican Gov. Jim Martin. Its options put everything on the table -- but favor businesses more than other plans. (None include the business license tax Senate Republicans have suggested nor a repeal of all tax exemptions currently in law.)

Here are the options identified in the study, obtained by Dome. (Click link for full study.)

Option A: 6 percent income tax, 3.5 percent sales tax, repeal corporate and franchise taxes

Option B: 5 percent income tax, 5 percent sales tax, 5 percent corporate income tax and repeal the franchise tax

Option C: 8.75 percent sales tax, no income tax, repeal corporate and franchise taxes

Option D: no state sales tax, 10 percent income tax, repeal corporate and franchise taxes



Document(s):
North Carolina Study.pdf


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