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.
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.