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Prosperity Watch: Abolishing corporate, personal income tax eliminates 60 percent of state’s revenue

Posted By Allan Freyer On January 24, 2013 @ 12:56 pm In NC Budget and Tax Center | Comments Disabled

In recent weeks, lawmakers in North Carolina have proposed a number of tax reform plans that would abolish the corporate and personal income taxes and shift the state’s revenue base to a consumption tax.  As the newest issue of Prosperity Watch [1]describes, taking this approach would immediately eliminate 60 percent of the state’s annual revenue. How would the state fill in this $12 billion dollar hole? See here [1]for more details.

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URL to article: http://pulse.ncpolicywatch.org/2013/01/24/prosperity-watch-abolishing-corporate-personal-income-tax-eliminates-60-percent-of-states-revenue/

URLs in this post:

[1] Prosperity Watch : http://www.ncjustice.org/?q=budget-and-tax/prosperity-watch-issue-21-no2-proposals-abolish-corporate-personal-income-tax-would

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