Estate Planning

Text of N.C. Senate Bill 202 - Tax Increases!

By Gregory Herman-Giddens

Senate Bill 202, among other things, contains many tax increases for us in the Tar Heel state, to wit:

• Increase top income tax brackets to 8.25% and 8.5% (currently 7.75%)
• Raise the State sales tax from 6.75% to 7%
• Apply sales tax to repairs, warranties, installation, movies, athletic events, amusement events/activities, courier and delivery services, and internet sales.
• Require Limited Liability Companies to pay a franchise tax.
• Increase the liquor tax by 1.5%.

You may wish to contact the following Legislators to let them know how you feel about this proposed law:

Representative Paul Luebke (Chair of the House Finance Committee)
(919) 733-7663

Senator David Hoyle (Chair of the Senate Finance Committee)
(919) 733-5734

If you don't support the bill, there's a petition to sign.  Make some noise, people!

Full post as published by North Carolina Estate Planning Blog on June 24, 2009 (boomark / email).