Are your kids ready to start the school year with the best school supplies and a new wardrobe? Luckily, Tax Free Weekend is just around the corner.
Tax Simplification and Reduction Act
Chapel Hill Mayor Mark Kleinschmidt said you may start seeing more people in need of services that the state no longer provides for due to the recent tax reform passed by the North Carolina legislature last Wednesday.
The bill reduces corporate income tax and replaces the progressive three-tier personal income tax system with a flat 5.8-percent tax for North Carolina residents.
With a signature by Governor Pat McCrory, the Tax Simplification and Reduction Act will be the first change to the tax code in about 80 years.