Americans for Prosperity Applauds Governor McCrory for Signing HB 1050
Bill Repeals Local Privilege Licensing Tax
RALEIGH – Americans for Prosperity – North Carolina today celebrated Governor McCrory signing legislation to repeal of the Local Privilege Licensing Tax, which taxes businesses for the “privilege” of doing business in a given municipality. The tax varies from municipality to municipality, in some cases taxing businesses hundreds of thousands of dollars simply for doing business.
“House Bill 1050 is an important piece to rebuilding North Carolina’s economy, due to the repeal of the privilege licensing tax,” said John Dudley, North Carolina State Director for Americans for Prosperity. “This tax has long been a lag on small business expansion and has even led to the creation of food deserts in several of our urban areas.”
The tax became an issue after a legislative study committee discovered that the local privilege licensing tax was one of the primary causes of food deserts in urban areas.
Dudley continued, “Now small businesses can expand, create jobs, and families in our urban areas will have access to fresh foods at grocery stores.”