NC think-tank’s panel urges lower, broader taxes
RALEIGH — A think tank wants lawmakers to revamp North Carolina’s tax system by cutting tax rates while making more people pay taxes on more things.
A committee created by the Institute for Emerging Issues at North Carolina State University said Tuesday the General Assembly should pass tax reform this year. The group said North Carolina would take the lead as a business-friendly state if it goes forward.
The committee says sales taxes and corporate and personal income taxes should be reduced while exemptions and loopholes eliminated. The committee co-chaired by former Charlotte Mayor Richard Vinroot also says local governments should have options to raise their own funds.
Senate Democrats already are considering whether to roll out a tax package soon that would lower rates while taxing some services.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
A think tank wants lawmakers to revamp North Carolina’s tax system by cutting tax rates while making more people pay taxes on more things.
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