North Carolina
NC Policy Watch: The Senate Tax Plan Fails to Fix the Problem
June 16, 2015
Last week, we raised concerns with the Senate leadership’s new tax plan. Rather than reinvesting and regaining ground lost in recent years, the Senate is pursuing another round of costly income tax cuts. When fully implemented, the $1 billion price tag for the Senate tax plan will mean North Carolina must forgo investments in the foundations […]
The News-Herald: Amazon’s Ohio Sales Tax Collection Seen As Way To ‘Level Playing Field,’ Close Tax Loophole
June 9, 2015
Some states, however, have decided not to wait for the federal government to make the change. So far, 10 states have taken their own limited steps to expand the number of retailers that must collect sales taxes, according to the Institute on Taxation and Economic Policy. New York was first, enacting legislation in 2008 requiring […]
Ashville Citizen Times: Long-Term Tax Shifts May Hit Rich and Poor Differently
June 2, 2015
North Carolina’s sales tax is unfair because it “requires the least from those with the most,” said Meg Wiehe, state tax policy director at the national Institute on Taxation and Economic Policy, which leans to the left. And because it exempts services and falls less heavily on the rich, the sales tax by itself will […]
Asheville Citizen-Times: Long-term tax shifts may hit rich and poor differently
May 29, 2015
North Carolina’s sales tax law has loopholes large enough to drive a truck through — or sail a boat, pilot an airplane or guide a train. Or pull a wood chipper through, provided it is intended for use out of state. Each of those items gets preferential treatment under the law, underlining difficulties with a […]
The News&Observer: NC Forgoes a Tax Windfall
May 18, 2015
The Institute on Taxation and Economic Policy, a nonprofit research group that focuses on tax fairness, analyzed that shift. Its findings have often been misconstrued to say that 80 percent of North Carolina taxpayers ended up paying more after the tax changes. Instead, the institute found that in 2014 – allowing for the expiration of […]
The Ashville Citizens Times: Renewed Attacks on Renewable Energy in Raleigh
May 11, 2015
Okay. Let’s talk about fairness and competition. From 2008 to 2012 Duke Energy paid no federal income tax though making more than $9 billion in profits, according to a report from Citizens for Tax Justice, the Institute on Taxation and Economic Policy and the North Carolina Budget and Tax Center. In fact, the utility got […]
Issues with Taxing Marijuana at the State Level
May 6, 2015 • By Carl Davis, Richard Phillips
Read as a PDF. Table of Contents Introduction Why Tax Marijuana? Designing a State Tax on Marijuana How Much Revenue Would Marijuana Legalization Generate for States Factors that Could Negatively Impact Marijuana Revenue Factors that Could Positively Impact Marijuana Revenue Conclusion Endnotes Charts and Text Boxes Current Approaches to Taxing Retail Marijuana Sales How Should […]
Shelby (NC) Star: Tax Season Brought Some Sticker Shock
April 28, 2015
Meanwhile, the Institute on Taxation and Economic Policy reports that in all 50 states, the wealthy tend to pay a lower percentage of their incomes in taxes than low- and middle-income taxpayers. The institute says states are relying largely on sales taxes, which hit poor and middle-income families especially hard because they spend a bigger […]
The Charlotte Observer: Raleigh’s “Help” Does More Harm
April 23, 2015
This at a time when a January report from the Institute on Taxation and Economic Policy showed state and local taxes take up 9.2 percent of total income for North Carolina’s poorest families. It nibbles 5.3 percent of our richest families’ income. Of course, there’s so much tax policy infighting among GOP lawmakers that it’s […]
Vermont Public Radio: Business Leaders Mount Campaign Against Plan to Limit Tax Deductions
April 15, 2015
Carl Davis is a senior analyst at the Institute on Taxation and Economic Policy, a Washington, D.C., based research group that analyzes federal, state and local tax policies. Davis, who lives in Vermont, says there’s no reason to think Vermont would suffer any competitive disadvantage if it goes through with the plan. “Massachusetts, Connecticut and […]
The Star News: Taxing Times for Tar Heels
April 15, 2015
Meanwhile, the Institute on Taxation and Economic Policy reports that in all 50 states, the wealthy tend to pay a lower percentage of their incomes in taxes than low- and middle-income taxpayers. In North Carolina, the institute reported, a family of non-elderly taxpayers in the bottom 20 percent of income – less than $18,000 a […]
Budget and Tax Center: Tax Credits for Working Families Deliver Broad Benefits to the State
April 14, 2015
The North Carolina EITC was a vital facet of the state’s tax system, building off of the federal tax credit—one of the nation’s most powerful anti-poverty tools for children. The benefi ts of the state EITC extended to the broader economy by promoting work and helping families afford things that make it possible to work, […]
Public News Service: North Carolina Taxpayers Report Leaner Returns in 2015
March 25, 2015
“The key thing about a tax system is it absolutely has to be adequate to meet the core public service commitments that we need to be making as a state,” says Sirota. “But the way in which we raise revenue is really critical.” Sirota says taxpayers making less than $67,000 a year – about 80 […]
North Carolina Justice Center: A Capital Loss – Eliminating taxes on capital gains would make North Carolina’s tax system more unfair
January 24, 2015
Tax cut proponents in North Carolina are pushing another plan that would benefit the wealthy at the expense of everyone else, turning their sights to eliminating the state income tax on the sale of artwork, vacation homes and other high-end capital gains that only a few North Carolinians profit from. Contrary to supporters’ claims, this […]
North Carolina Justice Center: Low-income taxpayers in North Carolina pay nearly twice the tax rate paid by the richest North Carolinians
January 21, 2015
The lowest income North Carolinians pay over 70 percent more in taxes as a percent of their income compared to the state’s wealthiest residents, according to a new study released today by the Institute on Taxation and Economic Policy (ITEP) and the Budget & Tax Center, a project of the NC Justice Center. Read the […]
The Greensboro News and Record: Taxes’ Low Blows
January 21, 2015
“State legislators opened their 2015 session saying they want to ease the tax burden on “regular folks.” That will be a turnaround. “Regular folks” — those who earn moderate incomes or less — pay a larger share of their incomes in state and local taxes than do the very wealthy in North Carolina. The Institute […]
NC Policy Watch: North Carolina’s unfair tax system highlighted in new report
January 16, 2015
The latest Who Pays? report released today by the Institute on Taxation and Economic Policy (ITEP) takes a look at the fairness of state tax systems. For North Carolina, the lowest income North Carolinians pay over 70 percent more in state and local taxes as a share of their income compared to the state’s wealthiest […]
News & Record: Tax policy makes the poor poorer
January 16, 2015
“The lower your income, the greater share of it you pay in state and local taxes, the Institute on Taxation and Economic Policy reports today. This is true all across the country. North Carolina is about average, but ongoing “tax reform” is making our system more regressive.” Read more
News & Observer: Despite claims, GOP policies aren’t spurring the NC economy
January 16, 2015
“The ballyhooed tax cuts have choked state revenue to the point where it will not be enough for even an austere budget. Current projections call for a $199 million shortfall, but it could go higher. Meanwhile, the cuts have increased economic inequality by shifting the tax burden downward. A new report from the Institute on […]
The Progress Pulse: North Carolina’s unfair tax system highlighted in new report
January 15, 2015
“The latest Who Pays? report released today by the Institute on Taxation and Economic Policy (ITEP) takes a look at the fairness of state tax systems. For North Carolina, the lowest income North Carolinians pay over 70 percent more in state and local taxes as a share of their income compared to the state’s wealthiest […]
Mountain Express: Low-income taxpayers pay nearly twice the rate of high-income taxpayers in NC
January 15, 2015
“According to a study from the The Institute on Taxation and Economic Policy and the Budget & Tax Center, North Carolinians with the lowest income pay more than 40 percent more in taxes (as a percent of their income) compared to the state’s wealthiest residents. The ITEP even calls the state and local tax system […]
USA Today: New Year Brings Hundreds of New Laws
January 5, 2015
Drivers in five states could see gasoline prices rise with gas tax increases, according to the Institute on Taxation and Economic Policy, a tax watchdog group. The biggest increase is in Pennsylvania, 9.8 cents, followed by Virginia, 5.1 cents; Maryland, 2.9 cents; North Carolina, 1 cent; and Florida, 0.3 cents. New York, Nebraska, Vermont, West […]
CBS Moneywatch: States Aren’t Hitting the Jackpot with Lotteries
December 16, 2014
Some lotteries have limits on the amount of money they spend on advertising their games as a way of discouraging compulsive gambling. Lawmakers in North Carolina, though, recently tried and failed to double the amount of money the state could spend on marketing its game, said Meg Wiehe of the Institution on Taxation and Economic […]
North Carolina Budget and Tax Center: 2015 Budget Undermines North Carolina’s Competitiveness
December 11, 2014
The 2015 state budget, passed by the NC General Assembly and signed by Governor McCrory, undermines North Carolina’s competitive position in the 21st century global economy. Lawmakers failed to provide a high-quality education for all children, protect natural resources, support community-based economic development, or provide adequate health and human services to North Carolina residents. By […]
North Carolina Budget and Tax Center: 2015 Budget Undermines North Carolina’s Competitiveness
December 11, 2014
The 2015 state budget, passed by the NC General Assembly and signed by Governor McCrory, undermines North Carolina’s competitive position in the 21st century global economy. Lawmakers failed to provide a high-quality education for all children, protect natural resources, support community-based economic development, or provide adequate health and human services to North Carolina residents. By […]
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