North Carolina
Reuters: State tax reform efforts snarled by politics but backers persist
April 24, 2013
(Original Post) By Nanette Byrnes Tue Apr 23, 2013 2:19pm EDT (Reuters) – From Louisiana to Ohio, Massachusetts and Nebraska, bold proposals to upend state tax laws are losing momentum in the face of political squabbles and special interest opposition. Just a short time ago, it looked as if several state leaders would show gridlocked […]
The Wichita Eagle: Brownback ‘tax swap’ plan facing stiff opposition
April 22, 2013
(Original Post) By Brad CooperKansas City Star Published Sunday, April 21, 2013, at 6:54 a.m. Eliminating or slashing the income tax is a romantic idea for many politicians. Getting there is much less dreamy. Just ask Republican Kansas Gov. Sam Brownback and a handful of other GOP governors who want income tax cuts but propose […]
Center on Budget and Policy Priorities: Strategies to Address the State Tax Volatility Problem
April 19, 2013
State revenues plummet in recessions, just when states can least afford the loss. Some proposals to address this flaw in state tax systems would change the systems’ structure — for instance, by replacing state personal income taxes with sales taxes — but wouldn’t solve the problem and would exacerbate others in state tax systems. States […]
North Carolina Justice Center: Profiles in corporate tax avoidance- Duke Energy
April 12, 2013
Duke Energy at a glance Largest electric power holding company in the U.S.; serves vast majority of NC electric consumers Assets: $114 billion 2012 Profits: $1.792 billion Net 2012 tax rate: -2.6% (rebate of $46 million) 2008-12 profits combine: $9.1 billion Net 2008-12 tax rate: -3.3% ($299 million in total rebates) Read the Full Report
North Carolina Justice Center: Profiles in corporate tax avoidance- Merck
April 12, 2013
Merck & Co. at a glance One of the largest pharmaceutical companies in the world; key player in global vaccine production and distribution. 2012 Sales: $14 billion 2012 Assets: Total assets of the Merck Group—$28.3 billion Total Profits 2008-12: $19.6 billion Profits held offshore: $53.4 billion as of 2012 ($22.2 billion added betweem 2008 and […]
North Carolina Justice Center: First Comprehensive Tax Legislation Would Not Protect Low- and Middle-Income Taxpayers from Tax Increases
April 3, 2013
80 percent of taxpayers would see slightly higher taxes under the first comprehensive tax legislation introduced this legislative session, while the top 1 percent of earners would get a tax cut. The proposal threatens to erode resources for schools, health care and other services North Carolina needs to be economically competitive. The proposal (Senate Bill […]
North Carolina Jusice Center: North Carolina’s Business Tax Deduction – Who Benefits?
March 27, 2013
In the 2011 budget, the North Carolina General Assembly created a deduction for the first $50,000 in non-passive income for businesses filing through the personal income tax. Proponents of the temporary tax break intended it to provide tax relief to small businesses and support job creation. However, in recent months there has been considerable debate […]
The Washington Post: Paul Ryan wants to cut income taxes. Bobby Jindal wants to kill them dead.
March 20, 2013
(Original Post) Posted by Dylan Matthews on March 20, 2013 at 11:45 am Most conservative policymakers at the federal level just want to sharply reduce the income tax, not eliminate it entirely. But more and more Republican-controlled states are deciding to go big or go home. So far, Govs. Bobby Jindal (R-LA), Dave Heineman (R-NE), […]
Steamboat Pilot and Today: Steamboat joins growing group of cities looking to grow their stake in the outdoor manufacturing industry
March 11, 2013
(Original Post) By Scott Franz Sunday, March 10, 2013 There’s nothing modest about Outdoor Retailer’s winter trade show in Salt Lake City. #For four days in January, the downtown Salt Palace Convention Center becomes a dizzying labyrinth of booths manned by the world’s most famous outdoor manufacturers. #It’s a place where a large SmartWool banner […]
The Daily Kos: Republican tax shifters wrong about states with no income taxes performing better
March 1, 2013
(Original Post) Meteor Blades for Daily Kos Economics Across the South and Midwest—in Georgia, Oklahoma, North Carolina, Louisiana, Indiana, Kansas and elsewhere—Republican-dominated states seek to eliminate income taxes and replace part of them with regressive sales taxes. Thus would be the tax burden be shifted to people in the lower earning tiers of the economy […]
The Huffington Post: States Without Personal Income Tax Experience Slower Growth
March 1, 2013
(Original Post) By Bonnie Kavoussi Posted: 02/28/2013 5:47 pm EST | Updated: 03/01/2013 12:21 am EST Small-government advocates often claim that high taxes hold the economy back. But a new report finds that states without a personal income tax have experienced slower economic growth than states with high income tax rates. The report, from the […]
States with “High Rate” Income Taxes are Still Outperforming No-Tax States
February 28, 2013 • By Carl Davis
Lawmakers in about a dozen states are giving serious consideration to either cutting or eliminating their state personal income taxes. In each case, these proposals are being touted as a way to boost economic growth.
Campus Progress: What ALEC’s Arthur Laffer Wants to Do To Your Tax Code
February 27, 2013
(Original Post) Posted Tuesday, February 26, 2013 by Chris Lewis Arthur Laffer might just be the Doctor Nick of taxes—all that’s missing is a degree from Upstairs Economics College. Earlier this month, we reported on the “Brownback Experiment,” a wild plan by Gov. Sam Brownback (R-Kan.) to cut the state’s income tax. Brownback said he […]
Charlotte Observer: Will reform unfairly target the vulnerable?
February 21, 2013
By Meg Wiehe Special to the Observer Posted: Tuesday, Jan. 29, 2013 By all accounts, North Carolina’s tax system will come under heavy scrutiny this year. Gov. Pat McCrory and House and Senate leadership have signaled their intentions to overhaul the way the state collects revenues necessary to pay for public investments. But while there […]
Charlotte Observer: State Sen. Bob Rucho says North Carolina tax system needs an overhaul
February 21, 2013
By Jim Morrill [email protected] Posted: Saturday, Feb. 02, 2013 RALEIGH Republican state Sen. Bob Rucho is screening his PowerPoint to yet another audience, watching slide after slide build a case for changing North Carolina tax law. All the charts and numbers add up to one conclusion: A tax system built during the Great Depression doesn’t […]
WFAE: As N.C. Considers Tax Overhaul, How Does Current System Work?
February 21, 2013
(Original Post) By Michael Tomsic Governor Pat McCrory and state lawmakers are considering major changes to North Carolina’s tax structure. So we decided to take a closer look at a report released Wednesday detailing the effective tax rates currently in place. It’s from the liberal-leaning Institute on Taxation and Economic Policy in Washington, D.C. […]
The Star-Ledger: Sticking to the Republican playbook
February 21, 2013
(Original Post) By Star-Ledger Editorial Boardon February 15, 2013 at 6:30 AM, updated February 15, 2013 at 10:58 AM New Jersey Gov. Chris Christie (left) with then-Ohio gubernatorial candidate John Kasich as they sit at a lunch counter during a live webcast Q&A session at a campaign stop for Kasich outside Cincinnati. Andrew Mills/The Star-Ledger […]
The Kansas City Star: With state tax reform, first do no harm
February 1, 2013
February 1 By MATTHEW GARDNER After a presidential election campaign during which tax fairness debates figured prominently, the battle has now emphatically shifted to the states. Louisiana Gov. Bobby Jindal, for instance, recently announced his support for a “flatter, fairer” tax code, and lawmakers in more than a dozen other states are poised to grapple […]
Jefferson Post: The rigged debate on tax reform
January 30, 2013
by Chris Fitzsimon N.C. Policy Watch The current debate over tax reform in North Carolina is the latest reminder of how far out of the mainstream some of the political leadership of the state now is. But it’s also serving a practical purpose for those on the Right who understand the benefits for their own […]
WRAL: McCrory still open to dumping state income tax
January 30, 2013
(Original Post) By Laura Leslie Posted: January 24Tags: Pat McCrory, Taxes, Art Pope, Budget and Tax Center Raleigh, N.C. — Despite the reservations of his budget director, Gov. Pat McCrory said Thursday that he still wants to look at the possibility of eliminating North Carolina’s income tax. Republican Senate leaders have proposed replacing the personal […]
WUNC: Deputy Budget Director Distances Himself From Tax Code Idea
January 25, 2013
(Original Post) Politics & Government5:32 pmThu January 24, 2013 By Jessica Jones It’s clear that North Carolina’s political leaders want to make big changes to the state’s tax code, but exactly what route they’ll choose to follow has been called into question. At a journalist roundtable yesterday, deputy budget director Art Pope distanced himself […]
More Inaccuracies, Bigger Omissions: Arthur Laffer’s Newest Study of Income Tax Repeal Falls Short
January 23, 2013 • By Carl Davis
Arthur Laffer's consulting firm--Arduin, Laffer & Moore Econometrics (ALME)--has released a report purporting to show that North Carolina could usher in an economic boom if it repeals its personal and corporate income taxes and replaces them primarily with a much larger sales tax. Prepared for the Civitas Institute, "More Jobs, Bigger Paychecks" relies on an economic analysis that is fundamentally flawed to the point of making it entirely useless.
North Carolina Justice Center: A “Laffable” Plan for Tax Reform
January 23, 2013
EXECUTIVE SUMMARY This tax plan, if implemented, will provide the wealthiest 20 percent of taxpayers a significant tax cut, which would be paid for by increasing taxes on 60 percent of the state’s taxpayers, primarily middle- and low-income taxpayers. The plan eliminates the personal income, corporate income and franchise taxes, which, combined, generate $12 billion […]
The American Independent: The conservative push to end NC’s income tax
January 22, 2013
Siddhartha Mahanta | 01.18.13 | 4:33 pm | Republish posted in Economy/Finance | Government Accountability/Reform | Politics Republicans in North Carolina haven’t had it this good since 1870. That’s the last time they controlled both the state’s legislative and executive branches. And they’re getting right down to business, pledging in interviews with local papers to […]
The Omaha World Herald: Other states also target income tax to spur growth
January 18, 2013
By Paul Hammel WORLD-HERALD BUREAU LINCOLN — Nebraska isn’t the only state looking to eliminate state income taxes. Republican leaders in both Louisiana and North Carolina are pushing plans similar to Nebraska Gov. Dave Heineman’s pitch — elimination of income taxes on individuals and on corporations to boost their local economies. Other states, including Oklahoma, […]
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