CAP THE STATE INCOME TAX RATE AT 7%

WHAT IT SAYS

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FOR or AGAINST: “Constitutional amendment to reduce the income tax rate in North Carolina to a maximum allowable rate of seven percent (7%).”

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WHAT WILL IT DO?

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This replaces the Constitution’s current cap of 10 percent.  The current constitutional cap on state income tax is 10%, where it’s been since 1936, and the state corporate tax rate is 3%. The current tax rate is 7%.

This amendment can shift tax burden to local counties, potentially increasing sales and property taxes which would hurt working families.

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