North Carolina’s 25% Tax Reduction

Yesterday North Carolina’s Governor signed a massive tax reform, into law. The law, among other things lowers the personal income tax rate from 7.75% to 5.75 persent, and the corporate tax rate from 6.9% to 5%. It also completely does away with estate tax.

Supporters are praising it as a model for economic growth, while antagonists of the reform cite heavy cuts to education made in order to pay for the tax reform.

Read both sides:

http://www.atr.org/north-carolina-gov-pat-mccrory-signs-a7770

http://www.huffingtonpost.com/jonathan-weiler/north-carolina-republican_b_3640991.html

Quoath South Dakota, “Quest No More.”

South Dakota’s quest service which could be used to file Sales and use tax returns, and contractors excise returns will not be available after July 23, 2013. Instead’ the South Dakota Department of revenue suggests using the EPATH service to electronically file said returns.

http://www.state.sd.us/drr2/businesstax/quest/quest.htm

Flood Money!

North Dakota is offering a Sales Tax Refund for residents who incurred flood damage in the 2011 flood. There are some stipulations though.

To find out if you qualify, or to find out how to file for this refund visit the link below:

http://www.nd.gov/tax/misc/faq/salesanduse/floodfaq.html#Question10