Tax Foundation’s State Business Tax Climate Index Moves NC Up to 15th….from 44th
RALEIGH – Americans for Prosperity (AFP) applauded Governor McCrory and state lawmakers today for passing tax cuts and reforms that made the state the 15th best state to do business, up from 44th two years ago, according to the Tax Foundation’s State Business Tax Climate index. AFP pointed to across the board reductions in personal and corporate income tax rates as directly responsible for making the state a more welcoming place for entrepreneurs and job creation.
“North Carolina discovered the secret sauce of job creation – cut wasteful spending and use the savings to lower the overall tax burden,” explained Donald Bryson, North Carolina state director of Americans for Prosperity. “Low taxes mean businesses have more money to grow their operation and hire more workers.”
“North Carolina is on the right track with tax reform, and we we’re just getting started. Our state lawmakers should take pride in their accomplishments but not become complacent: we are still 14 places too low. Next year lawmakers should focus on ending corporate welfare for film and JDIG incentives and use the savings to lower taxes for all North Carolinians. More money staying in our local economy means more jobs being created across the state.”