North Carolina tax overhaul bill heads to McCrory


The North Carolina House of Representatives and Senate gave thumbs up Wednesday. The next stop is Gov. Pat McCrory's desk.

Under the plan, individual and corporate income tax rates would be reduced and the sales tax tinkered with to cover a few more transactions.

Republicans gave tentative approval to the bill Tuesday. They said it will put more money into people's wallets and give North Carolina an advantage in business recruiting. However, Democrats contend wealthy taxpayers will benefit the most at the expense of everyone else.

Once McCrory signs the bill, most changes will take place in 2014. However, the repeal of North Carolina's estate tax begins this year.

The governor's office scheduled a signing ceremony at the old Capitol building late Wednesday afternoon, but didn't say for what legislation.

See It On TV | Report A Typo |  Send Tip |  Get Alerts | Send us photos
Follow @abc11 on Twitter  |  Become a fan on Facebook

Copyright © 2024 WTVD-TV. All Rights Reserved.