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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

John Allison, prominent N.C. conservative, to take helm at Cato Institute

John Allison, a prominent North Carolina conservative and former CEO of BB&T, is taking the helm of the Cato Institute, a leading libertarian think tank in the nation's capital.

Allison assumed the role after a major shakeup at Cato involving billionaire brothers Charles and David Koch. The Koch brothers, who are major conservative moneymen and Cato board members, agreed to drop two lawsuits against the institute if current chief executive, Ed Crane, left. (Read more on the controversy here.)

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