taxes (page 3)

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    The Hidden Taxes in North Carolina’s Sales Tax

    Dr. Roy Cordato explains a key point of North Carolina tax policy that many of us don’t realize. I am referring to the fact that North Carolina taxes final sales of products to the end consumer and business to business on sales. That is, it taxes goods that are inputs…
    Donna Martinez, May 19, 2017
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    Federal Border Tax Could Mean $800 Million Hike in N.C. Insurance Premiums

    A proposed federal border-adjustment tax would cost North Carolina consumers an additional $800 million in higher property-casualty insurance premiums over the next decade. That’s the bottom-line conclusion from a report issued by the John Locke Foundation and the Washington, D.C.-based R Street Institute. The tax would hit this…
    Donna Martinez, May 17, 2017
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    Deducting Medical expenses on your taxes this year?

    I’ve gotten some questions about this deduction this year – this is not a NC deduction, but a federal tax deduction.  The deduction had historically been 7.5% of your adjusted gross income (AGI), but starting January 1, 2013 the threshold was raised to 10%. Turbo Tax has a great…
    Sarah Curry, February 20, 2015
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    Cell Phone Taxes, NC is ranked 33rd

    The Tax Foundation has released a report on wireless taxation across America, and North Carolina is the 33rd highest. Below is the detailed information about North Carolina. Wireless State-Local Rate Federal USF Rate Combined Federal/State/Local Rate 8.46% 5.82% 14.28%   If you want to read more, you can check out…
    Sarah Curry, October 13, 2014
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    NC’s fiscal condition? We’re about in the middle of the pack

    North Carolina state government’s fiscal condition didn’t rank near the top, nor near the bottom in five areas studied by the Mercatus Center. North Carolina ranked 38th in cash solvency, 24th in budget solvency, 24th in long-run solvency, 18th in service-level solvency, and 33rd in fiscal…
    Barry Smith, January 14, 2014
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    NC one of the best states for tax administration

    The Council On State Taxation (COST) awarded North Carolina a B+ for tax appeals and procedural requirements.  Their report details four areas of improvement for North Carolina, including corporate return filing burden and transparency in guidance and rulings.  Hopefully, North Carolina’s recent tax reform efforts improve our grade…
    Terry Stoops, December 17, 2013
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    Does money from Washington grow on trees?

    Dollars flowing to North Carolina from Washington are not free. They’ve been portrayed as such from a lot of opponents of GOP-sponsored bills blazing their way through the General Assembly during the opening weeks of the 2013 session. For example, on Wednesday, Sen. Josh Stein, D-Wake, while arguing against…
    Barry Smith, February 14, 2013
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    New report assesses tax competitiveness

    According to a new report by KPMG, Cincinnati had the best tax climate in the nation, followed by Baltimore, Cleveland, Atlanta, and Pittsburgh.  Atlanta notwithstanding, if the professional football team plays in the AFC North, you’ll find a competitive tax climate. In the ranking of cities worldwide, however, U.S.
    Terry Stoops, September 26, 2012