Needed Relief for Small Business

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.

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Tax Reform Fuels Economic Growth

Big news hit this week in Raleigh: North Carolina’s revenues continue to grow, surpassing expectations by nearly $2 billion, which is a promising development for another round of tax reform in the General Assembly. As currently written, House Bill 334 not only lowers the individual income tax rate and increases the standard deduction, it both eliminates the corporate income tax

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A Notorious Hedge Fund Eyes Duke

Last month, the Wall Street Journal reported that  Elliott Management Corporation, one of the oldest and wealthiest hedge funds in the world, had acquired a stake in Duke Energy. Duke, headquartered in Charlotte, provides electricity to nearly eight million customers spanning six states: North Carolina, South Carolina, Ohio, Kentucky, Indiana, and Florida. It is the third largest energy provider in

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Let’s Not Turn Back the Clock

Legislation has been introduced in the General Assembly that doubles taxes on businesses and eliminates the state’s flat tax. House Bill 556 (and its companion bill in Senate, S710) turns back the clock nearly a decade to a tax code which dates from the Depression-era 1930s, when tobacco and textiles were the primary drivers of North Carolina’s economy. Background In

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Here We Go Again

Legislation has been introduced this session to reinstate North Carolina’s Earned Income Tax Credit (EITC), which was ended on January 1, 2014 as part the historic conservative Tax Reform package that was passed in 2013. Despite its innocuous name, this idea is simply another government handout with serious and significant consequences for the state. Senate Bill 181 and House Bill

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