ROCKINGHAM – As part of the ongoing mission of the Richmond Observer to provide expansive coverage of current events of interest, we offer the following insight from State Representative Ken Goodman regarding upcoming constitutional amendment considerations.
THE RALEIGH REPORT
Six Constitutional Amendments
The Governor cannot veto these bills.
· In the last 20 years, North Carolina has voted on 7 constitutional amendments.
· In November 2018, voters will vote on 6 constitutional amendments.
What are the six amendments about? Here is a brief explanation of the fifth of the six.
Income Tax Cap (amendment #5)
The NC Constitution caps the income tax at 10% for people and corporations. The 2019 personal income tax rate is at 5.25% and the corporate income tax rate is at 2.5%.
The constitutional amendment on the ballot will lower the maximum rate to 7%. November’s vote will not lower your taxes, just limit the amount the income tax rate can rise in the future.
The language on the ballot will read: “Constitutional amendment to reduce the income tax rate in North Carolina to a maximum allowable rate of seven percent (7%).” You can read SB 75 here
Please feel free to contact me when you have questions or concerns pertaining to Legislative matters.
Contact Information: Representative Ken Goodman
919-733-5823 (Office) 919-733-2599 (Fax)
ken.goodman@ncleg.net Room 542 – Legislative Office Building
300 N. Salisbury Street Raleigh, NC 27603
