Uncategorized

Corporations get a tax break in the final hours of the session (video)

The Republican-led General Assembly adjourned Saturday touting the passage of dozens of bills
that they say will put North Carolina on “a new, more responsible path to better economic growth, prosperity and public education.”

Among the bills to win approval in the final hours of the session was House Bill 619, which amends the state’s tax code and allows multi-state businesses to shift their revenue around and lessen their tax burden in North Carolina.

House Majority Leader Paul Stam called the measure the “most powerful economic development bill” lawmakers could pass.

But Rep. Jennifer Weiss said the legislation creates a tax loophole that will cost the state $32 million and essentially “legalize tax evasion.”

Rep. Paul Luebke said the bill was nothing to be proud of, and would do nothing to help small businesses back home.

The NC Budget & Tax Center has said the bill would stack the deck against local businesses and “starve the critical public structures we depend on.”

The Revenue Laws Study Committee will examine the proposal further before it goes into effect next year.

To hear some of the debate over House Bill 619, click below:

Check Also

Time’s ticking, the ACA’s Open Enrollment deadline is fast approaching (video)

North Carolinians only have ten days left to ...

Top Stories from NCPW

  • News
  • Commentary

Historical commission member weighs in on monuments, free speech Valerie Johnson is the Mott Disting [...]

The Gardner farm in Wade, population 567, in Cumberland County has been in the family for more than [...]

North Carolina’s former public school superintendent June Atkinson says the state’s new K-12 leader [...]

157 – days since the state budget bill became law containing a provision that makes it more difficul [...]

The solid citizens of Johnston County, N.C. – in a fateful quirk of geography – for several years ha [...]

Why North Carolina’s coal ash and mental health crises have a lot in common Two of the biggest stori [...]

The post Tax Cuts & Jobs Act for the 1% appeared first on NC Policy Watch. [...]

Tax “reform” is on the front burner in Washington this holiday season and, as many knowledgeable obs [...]

Featured | Special Projects

NC Budget 2017
The maze of the NC Budget is complex. Follow the stories to follow the money.
Read more


NC Redistricting 2017
New map, new districts, new lawmakers. Here’s what you need to know about gerrymandering in NC.
Read more