United States:
North Carolina Enacts Budget Legislation Reducing Income Tax Rates, Providing Sales Tax Exemptions
08 September 2017
Grant Thornton LLP
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During June 2017, the North Carolina legislature passed
legislation that included various income tax and sales tax
provisions as part of the state budget. Gov. Roy Cooper vetoed the
state's budget bill, S.B. 257, but the budget was enacted when
the legislature overrode his veto on June 28, 2017. The budget bill
includes corporate and personal income tax rate reductions, sales
and use tax exemptions, and amendments to various credits and
incentives.
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