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

Sales Tax Discount

Position: The sales tax discount to sales tax collectors and remitters should be reinstated in an amount that is fair and equitable within the revenue available.

Explanation: Prior to changes enacted in 1987, retail merchants were allowed to retain a small portion of the sales tax they collected to defray the costs they incurred in helping the State administer the sales tax. This discount was repealed in 1987 when the inventory tax was repealed but most merchants did not gain any net benefit because at the same time the maximum corporate income tax rate was increased by 1%. The corporate income tax rate was increased again in 1991 then decreased in 1996, 1997 and 1998.  However, it has not been reduced to below the 1991 level.

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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
Remove Inventories From Franchise Tax Base
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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