RALEIGH – Senate Bill 75, Constitutional Amendment – Max Income Tax Rate 5.5%, would place on the November, 2018 ballot a vote to change the state constitution’s current cap on the income tax rate of 10% down to 5.5%. The current flat personal income tax rate is 5.499% and the corporate income tax rate is 3%.
Earlier this week, the Senate Finance Committee approved the measure and moved it to the Rules Committee.
Civitas Action believes in strongly protecting North Carolina taxpayers against future legislatures’ desires to raise taxes to fuel their spending habits.
Civitas Action fully intends to grade any votes taken on Senate Bill 75 in its 2017 Civitas Action Conservative Effectiveness Ranking, and the grades will be updated to the website within one or two business days following the vote.
Civitas Action is a 501(c)(4) non-profit that educates and informs North Carolinians on policy issues and the actions of their elected officials.