Applauds Senate for Amending HB 1050 to Eliminate Onerous Tax on Businesses
RALEIGH – Americans for Prosperity – North Carolina today applauded the State Senate for amending House Bill 1050, the Omnibus Tax Law Changes, to fully repeal the local privilege licensing tax. The tax is paid by businesses for the “privilege” of doing business in a municipality. It varies by municipality and in some cities, such as Charlotte and Durham, charges businesses hundreds of thousands of dollars.
“The Local Privilege Licensing Tax is a prime example of how bad tax policy can discourage a business from opening shop in a given locality,” explained John Dudley, NC State Director of Americans for Prosperity. “Repealing this tax will send a message that our state’s municipalities value and welcome entrepreneurship and are more interested in long-term economic growth than short-term revenue gains. We hope the Senate quickly passes the amended legislation and the House concurs.”
For further information or an interview, please contact Donald Bryson at DBryson@afphq.org or 919-710-0484