South By North Strategies, Ltd.

The North Carolina Budget and Tax Center reports on the role of the state’s personal income tax in funding public services and investments in an equitable manner.

North Carolina’s reliance on the personal income tax as its primary source of state revenues provides multiple important benefits to state residents. It ensures that state revenues are better able to keep pace with growth in the state’s economy and demand for public investments, and it better aligns North Carolinians’ state and local tax contributions with families’ ability to pay.
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Reforms to the personal income tax are certainly needed, but they should be done in a way that supports the consensus principles of comprehensive revenue modernization and, in so doing, ensure that North Carolina is positioned to invest in economic opportunity for all.