State and Local

Several new tax proposals introduced in the NC House

Republican Senate President Pro Tem Phil Berger says there could be a joint Finance Committee meeting next week to look at a tax cut package for the budget, but some ideas are already being floated in the House. Republicans Bryan Holloway, Danny McComas and Dale Folwell are proposing an income tax exemption for small businesses (HB893). They want to allow a small business to subtract up to $50,000 of taxable income to reduce the tax burden.  Read more at



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