Remove Inventories From Franchise Tax Base

Position: The North Carolina General Assembly should reform the state franchise tax by removing inventories/work-in-progress from Schedule D.

Explanation: This reform of the franchise tax on inventories will assist companies which engage in high, value-added manufacturing and encourage the types of jobs that we as a state most want to retain and attract. North Carolina is one of only three states that taxes inventories as a part of the franchise tax. This puts our state at a great disadvantage when we are trying to recruit and retain high-wage employers with expensive or large inventories. It also makes it more difficult for new businesses to make a profit, when they must pay a franchise tax based on their inventory.

The manufacturing industry in our state has always been a source of economic stability. We need to nurture and encourage this high-value part of our economy.

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Continue N.C. Budget Reform

Contingent Fee Audits

Defining "Doing Business" In North Carolina

Property Tax Exemptions For Construction In Progress And Product Samples

Machinery Tax And Sales Tax

Change The Net Economic Loss (Nel) Carryover

Remove Credit Balances From The Definition Of Unclaimed Property

Sales Tax Discount

Single Sales Factor

Proposed Model Unclaimed Property Act
Allow an R&D Credit for the Actual Amount of N.C. Expenditure