A Wake County restaurant owner has been charged with six counts of embezzlement of state property in tax cases tied to two restaurant entities, according to the N.C. Department of Revenue.
All tagged state tax
John Hood: Cut state tax on capital gains
RALEIGH — Over the past decade, the General Assembly has pursued a tax-reform strategy designed to foster growth and expand freedom in the Tar Heel State. North Carolina now has a flat-rate income tax. State taxes on both personal income and retail sales apply lower rates to broader bases. And lawmakers are in the process of phasing out state taxes on corporate income.
State tax collections spike, opening door for tax-relief measure
North Carolina has collected more than $6 billion in state taxes than was originally forecast in May 2020 by state economists. That’s the finding of a report presented to members of the Joint Full Chairs Appropriations Finance Committee by the nonpartisan Fiscal Research Division at the General Assembly and the Office of State Budget and Management.