The Voice of Business, Industry & the Professions Since 1942
North Carolina's largest business group proudly serves as the state chamber of commerce

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
 

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