What's the tax situation like in NC?

[Sean_CLT]

I learned to pay sales tax on candy when I was six years old so the food tax doesn't bother me. Most locals just accept it as part of the cost of living.

The income tax isn't as bad as it was several years ago when you could get a "surcharge" on top of your witheld tax. I was pleasantly surprised this year to see my paycheck improve Jan 15 based on the new tax rates.

NC does not tax Social Security as income, that is a factor for some people.

The highway use tax can be a sizeable amount to face, but at least it's not as bad as California where you simply pay the same sales tax on cars as other purchases.

Were people in this thread seriously whining about the sales tax on clothing? I doubt I spend more than $200 a year on clothes. (TJ Maxx, Dillards Clearance, Goodwill, Wal*Mart) What is that, $14 a year or something? Sheesh.

[VTGal]

Originally Posted by Sean_CLT

The highway use tax can be a sizeable amount to face, but at least it's not as bad as California where you simply pay the same sales tax on cars as other purchases.

Thanks for the reply

Up north you always pay full sales tax when you buy a car, that's painful. That's why so many people trade in their cars, to lower the overall tax they pay.

Then FL hit me with a $428 charge to register my car, good grief, that's ridiculous

Since I've already paid 6% sales tax on my car in VT,
NC won't charge the whole 3%, max of $150, isn't that nice of them

[Egbert]

Originally Posted by VTGal

NC did eliminate the estate tax, so they threw in one positive change
At least your heirs will benefit

The thing though is that only impacted like maybe around 20-150 people a year.

Originally Posted by Francois

Only if your estate is more than $5,000,000, which is the amount that was exempt from the estate tax already.

5 million if you are single and 10 million for married. On the other hand IIRC NC probate taxes are still in effect and its about $.40 for every $100 capped at $6k.