South By North Strategies, Ltd.

The NC Budget & Tax Center explains the benefits of maintaining certain temporary income and corporate taxes for the next biennium.

North Carolina’s revenue system requires low‐ and middle‐income families in North Carolina to contribute a greater share of their incomes in state and local taxes than those in the top 1 percent. Indeed, the top 1percent, earning more than $367,000, paid just 6.8 percent of their incomes in total state and local taxes,while those earning less than $17,000 paid 9.5 percent.
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The high‐income surcharge raises the share of income paid by the wealthiest households in total state and local taxes to 7 percent, still far below the relative contribution of low‐ and middle‐income families in North Carolina …. Households in the top 1 percent, who on average earn $929,000, saw an average tax increase of $1,507. Households in the top 4 percent, who on average earn $223,000, saw an average tax increase of $231.  Importantly, though, only 15percent of those in this income bracket actually experienced a tax increase.
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Furthermore, based on tax return data from2008, more than half of the benefit of ending the corporate income tax surcharge would accrue to200 big corporations.  Increasing the after‐tax profits of these big corporations, most of which have the vast majority of their operations in other states, is unlikely to benefit the average North Carolinian.  The rest of North Carolina’s nearly 200,000 employers would benefit little or not at all.