A new report by the Tax Foundation finds that North Carolina’s 2.5% corporate income tax is now the lowest in the nation. All told, 45 states (and the District of Columbia) levy corporate income taxes while six do not. New Jersey has the highest rate of corporate income tax at 11.5%. Of those six states that do not levy a
House Speaker Tim Moore announced the composition of 44 committees and subcommittees last week for the 2023 ‘long session.’ Each legislator is assigned to one or more committees, depending on their interests, background, and areas of expertise. The lion’s share of the legislature’s work is done in committee meetings, and many committees continue their work throughout the year — even when
History was made in Raleigh last week as the 156th Biennium Session of the North Carolina House of Representatives convened for its opening day. Representative Tim Moore was elected by acclamation for his fifth term as Speaker, making him North Carolina’s longest-serving Speaker of the House. “During his tenure as Speaker,” said Representative Jimmy Dixon in his speech nominating Moore, “Tim Moore has shown
Forbes magazine named our state the #1 state for business. Why? Because the conservative majority in the legislature has governed responsibly — cutting taxes and regulation, increasing teacher pay and education funding, and saving for emergencies. With conservative reformers in charge, our state’s best days are still ahead.
This week, the North Carolina House of Representatives Finance committee recommended two COVID-19-related bills (H.B. 1034 and H.B. 1039) which focus on small-business loans. Other benefits of the bills include easing unemployment-claim requirements and waiving tax-filing deadlines.
