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CRP Contact Info
Ronnie Bryant, CEcD, FM, HLM
President & CEO
rbryant@charlotteusa.com
Kenny McDonald, CEcD
Senior VP, Economic Development Services
kmcdonald@charlotteusa.com
Charlotte Regional Partnership
1001 Morehead Square Dr.
Suite 200
Charlotte, NC 28203
Phone: 704-347-8942
Fax: 704-347-8981
Toll Free : 1-800-554-4373
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NC Taxes | NC Tax Credits | NC Incentives | SC Taxes | SC Tax Credits | SC Tax Incentives
SC Financial Assistance Programs
*North Carolina & South Carolina Legislative Update (September 2007)
Each legislative session brings about small changes in the legislation that can effect your future and/or existing clients. We have provided a brief, high-level overview of the key legislative changes that may impact the economic development community. Click here for detailed changes |
North Carolina Taxes
Corporate Income Tax
Flat rate of 6.9% of net income allocable to the state.
Sales & Use Tax
4.5% statewide with a local rate of 2.5% or 3% on transactions (combined 7% tax is not applicable to raw materials, containers, labels, packaging and shipping materials).
Franchise Tax
$1.50 per $1,000 and is applied to the greatest base determined as set forth in the law.
Inventory Tax
North Carolina does not impose an inventory tax.
Property Tax
North Carolina does not impose a state property tax.
Subject to local rates (county rates range 4.2-11%, city rates range 2.4-8%).
Electricity
1.8%; On July 1, 2008 the rate will decrease to 1.4%. Beginning July 1, 2009 the rate will decrease to 0.8%, and on July 1, 2010 a full exemption on sales and use tax for fuel and electricity sold to a manufacturer for use in connection with the operation of a manufacturing facility.
Natural Gas
2.83%
Telephone Service
3% local
6% intrastate
$50,000 cap applies for call center operations
Unemployment Insurance Rate
Average tax rate of $200.40
Employers rate 0.00% to 6.84%
Taxable base $17,800
| North Carolina Individual Income Tax Rates |
| Federal Deductibility |
| No |
| Marginal Rates and Taxes |
| 6% > $0 |
| 7% > $12,750 |
| 7.75% > $60,000 |
| 8.00% > $120,000 |
| Standard Deduction |
| Single |
| $3,000 |
| Joint |
| $6,000 |
| Personal Exemptions |
| Single |
| $1,200 |
| Dependents |
| $1,200 | |
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