In case you missed it, a Sunday editorial in the Greensboro News & Record told it like it is when it comes to the matter of corporate taxes in North Carolina. It was entitled “Next to nothing.”
“What’s less than a lower corporate income-tax rate? What some businesses actually pay.
North Carolina legislators cut the state’s corporate income-tax rate last year from 6.9 percent to 6 percent. It’s scheduled to drop to 5 percent next year.
Duke Energy, based in Charlotte, paid an average of 1.3 percent of North Carolina profits in state corporate income tax from 2008 through 2012, according to a study released last week by Citizens for Tax Justice and the Institute for Taxation and Economic Policy. Read more