Displaying items by tag: taxes

In May, the Treasury Department released the Biden administration’s revenue proposals for fiscal year 2022. One aspect of this document that has gone under-reported is the administration's new plan for reporting requirements for financial institutions.

RALEIGH — Gov. Roy Cooper has vetoed a measure that would keep charitable donors’ personal information private.

RALEIGH — A lawsuit challenging N.C. constitutional amendments for voter identification and a lower state income tax cap has been removed from today's calendar of state Supreme Court oral arguments.

I’m no mind reader. So it’s hard to tell whether a recent attack on proposed N.C. tax cuts represents a case of willful ignorance or deliberate misdirection.

RALEIGH — North Carolina now has one of the most broad-based and competitive tax structures for business in the United States, according to a recent Location Matters survey and newly released white paper from the Tax Foundation and KPMG LLP.

The state senate’s budget is chock full of tax cuts while continuing to underfund our schools and universities. But tax cuts are what really matter to the GOP. Activists and legislators perpetually tout the Tax Foundation’s business climate ranking as evidence that their tax policy is making North Carolina more competitive. Since Republicans took control of the legislature, we’ve steady moved up in the rankings and now are 10th in the nation. 

Did Fagin’s pickpockets stimulate the economy of London?

RALEIGH — The N.C. Senate voted Thursday to pass the body’s state budget plan by a vote of 32-18, with four Democrats joining all Republicans in supporting the plan. Sens. Ben Clark, D-Cumberland, Kirk DeViere, D-Cumberland, Paul Lowe, D-Forsyth, and Don Davis, D-Greene, supported the Senate budget.

In the name of safety and at times part political theater, North Carolinians spent over a year following stringent emergency orders because of the coronavirus pandemic. Businesses shuttered, citizens lost their livelihood, millions eschewed social events or celebrations of any kind. Many young people are still hampered by mask mandates in schools. A silver lining amidst all that sacrifice, North Carolina is uniquely positioned coming out of this pandemic to offer state income tax cuts. Lawmakers must make it happen for myriad reasons.

The self-styled investigative journalism outlet ProPublica recently published private IRS tax information — presumably embarrassing private tax information — for a host of ultrawealthy and famous Americans.