Uncategorized

Consideration of Estate Tax Repeal Pushed Back to March

As often happens to committee-agenda items scheduled last, the General Assembly’s Revenue Laws Study Committee ran out of time today before members could consider proposed legislation to repeal North Carolina’s estate tax.

According to the committee’s chair, Senator Rucho, consideration of the legislation, including testimony by the Budget and Tax Center and the NC Center for Nonprofits, will be rescheduled for the committee’s next meeting in March.

Under the proposed legislation, North Carolina would no longer levy an estate tax after 2012 regardless of what happens to the federal estate tax in 2013, when the federal estate tax is, by law, set to return to its pre-Bush-tax-cut parameters.

Before pushing through with repealing the estate tax, lawmakers would be well advised to strongly consider the consequences for state revenues and ensuring that all North Carolinians pay their fair share in taxes.

Check Also

Some of Obama Administration’s Proposed Tax Changes Lay Groundwork for Federal, State Reform

This blog post is one in a series ...

Top Stories from NCPW

  • News
  • Commentary

Even before he dropped the gavel on the Senate Finance Committee meeting, Sen. Jerry Tillman, a noto [...]

The $23 billion budget deal speeding through the N.C. General Assembly this week includes a platoon [...]

Royal Diadem Jewelers in Greensboro sets itself apart in a number of small ways - fast and friendly [...]

Over one weekend last October, more than a half-foot of rain fell on the small town of Vass in Moore [...]

The final budget that lawmakers have proposed fails to strengthen the foundation of North Carolina’s [...]

Most of the initial headlines about the final budget agreement announced Monday afternoon by legisla [...]

Unexplained, backroom maneuver would rob already underfunded anti-poverty program There’s no denying [...]

Women and their access to health care has been in the news these past few months, as the plan to rep [...]

Featured | Special Projects

Trump + North Carolina
In dozens of vitally important areas, policy decisions of the Trump administration are dramatically affecting and altering the lives of North Carolinians. This growing collection of stories summarizes and critiques many of the most important decisions and their impacts.
Read more


HB2 - The continuing controversy
Policy Watch’s comprehensive coverage of North Carolina’s sweeping anti-LGBT law.
Read more