South By North Strategies, Ltd.

The N.C. Budget and Tax Center recently released a blueprint for modernizing the state revenue system in a way that adequately funds the services demanded by North Carolina citizens in a manner that is more efficient and more fair than the status quo.

From the report:

… modernizing and adjusting the tax system as proposed would mean an overall decrease in state income and sales taxes for households with taxable incomes below $29,000. For everyone else the increase would range from barely a tenth of 1 percent to just over a half percent.
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If these proposals were adopted, North Carolina would have a 21st century tax structure that reflects the nature of today’s economy and produces the revenue required to meet the growing needs of a growing state, allowing continued investment on necessities that help promote prosperity and job creation. By changing the relative emphasis of various forms of taxation, the overall structure would better keep up with growth in the state’s economy and the needs of state residents, while also withstanding economic downturns.