Taxes

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    North Carolina not alone: Most states miss the mark with internet sales tax collections

    For years, budget experts have forecast billions of dollars in new revenue if state could just get online retailers to collect sales taxes like their Main Street counterparts. The National Conference of State Legislatures projected North Carolina would raise $426 million a year. Since companies started collecting sales tax for…
    Joseph Coletti, August 19, 2019
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    This weekend on Carolina Journal Radio

    North Carolina state government ended the last budget year with a revenue surplus of almost $900 million. That’s more than $200 million more than officials had expected just three months ago. Joseph Coletti analyzes the surplus in the latest edition of Carolina Journal Radio. Brenee Goforth discusses…
    Mitch Kokai, August 16, 2019
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    Refunding the surplus?

    My commentary yesterday on the possibility of refunding some or all of the surplus to people has generated some discussion, thanks in part to a simpler version on this blog and to comments on Twitter. A couple suggestions seemed worth pursuing. First, refunding money to taxpayers using the…
    Joseph Coletti, August 15, 2019
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    North Carolina Has a Surplus. How Did That Happen?

    This week, JLF’s Joseph Coletti published a research brief on the possibility of a taxpayer refund in North Carolina. North Carolina has $2.7 billion in unappropriated cash balances and excess projected revenue, and some lawmakers in the state are considering what to do with that money. According to Coletti: With…
    Brenee Goforth, August 15, 2019
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    Warren wealth tax wouldn’t work

    Kyle Sammin of the Federalist explores one of Democratic presidential candidate Elizabeth Warren’s worst ideas. Even if the people were on board at a gut level, the real facts and results of implementing a wealth tax would be instantly unpopular. Warren says the tax only applies to wealth…
    Mitch Kokai, August 13, 2019
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    CJ Reports: Is Cooper’s revenue department rejecting legitimate tax credits?

    This week, Carolina Journal’s Don Carrington reported on the potential denial of as much as $500 million in renewable energy tax credits to investors. Carrington reports: For two decades, the state has encouraged investments by individuals and businesses in renewable energy partnerships. The most recent version of the incentive gave…
    Brenee Goforth, August 8, 2019
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    New Carolina Journal Online features

    Brooke Conrad reports for Carolina Journal Online on North Carolina’s response to hemp as a potential cash crop. Brenee Goforth’s Daily Journal highlights North Carolina’s tax on illegal drugs.
    Mitch Kokai, August 8, 2019
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    Alcohol for the public good

    A letter writer to the Hendersonville Times-News worries that private liquor sales would eliminate “profits for public advantage” and put personal profits ahead of the “control and prevention of underage drinking.” Alcoholic Beverage Control managers, however, seek personal profits just as much as a private business would. The current system…
    Joseph Coletti, August 7, 2019