state income tax (Raleigh, Asheville, Washington: sales, mortgage, home equity loan)

[hoffmtl2]

I am sure that this is somewhere on this board but I don't have much time to look. But can you please tell me if you pay state income tax in NC? Do they take it out of your check? I know that some states don't pay state such as TX, etc. And I was wondering if NC was one of those.

Thanks!

[MrsSteel]

Yes, we pay state income tax in NC.

[adlnc07]

North Carolina does have a state income tax, and it will be taken out of your paycheck.

[Waterboy526]

Yes we do and we areone of the higher taxing states on personal income. Most people will be paying between 7%-8% of your AGI towards state income taxes.

For single taxpayers:
-- 6 percent on the first $12,750 of taxable income.
-- 7 percent on taxable income between $12,751 and $60,000.
-- 7.75 percent on taxable income between $60,001 and $120,000.
-- 8 percent on taxable income of $120,001 and above.

For married persons filing joint returns:
-- 6 percent on the first $21,250 of taxable income.
-- 7 percent on taxable income between $21,251 and $100,000.
-- 7.75 percent on taxable income between $100,001 and $200,000.
-- 8 percent on taxable income of $200,001 and above.

[mm34b]

NC falls around the middle in total state and local tax burden. Half the states will be higher and half will be lower. Nothing unusal going on here.

The top five states seeing their citizens leave:

Michigan
North Dakota
New Jersey
New York
Illinois

The states in the following list do not have an income tax (although Tennessee and New Hampshire do tax income from interest and dividends)

Florida
Alaska
Nevada
New Hampshire
South Dakota
Tennessee
Texas
Washington
Wyoming

Of course, income taxes are only one part of the overall tax burden. High city taxes, property taxes and other assorted taxes all come into play. And states without an income tax are not always the ones with the lowest tax burden. Alabama, for example, has a state income tax but the overall tax burden is among the lowest in the country.

Here are the top five most popular destinations for Americans on the move and their overall tax burden (the national average is 11%):

North Carolina (11%)
Nevada (11.9%)
Alabama (8.8%)
Oregon (10%)
South Carolina (10.7%)

[Siberia]

Compare Mortgage Rates | CD Rates | Home Equity Loans Mortgages Quotes Best Rate Calculator Bankrate.com has taxes for all 50 states...income, sales, etc.

Tax help | Tax Tips New and State and Federal Income Taxes Advice Brackets Preparation Information by Bankrate.com

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Seems to me that some states tax higher for those who work hard (income tax), some tax higher for those who build large (property tax), and other tax higher on consumption (sales tax).

Personally, I believe 100% sales tax is the way to go...why tax hard work or own lots of land, when our "footprint" of consumption would be a better indicator of how much we pay to ensure a better society...

What surprises me about N.C. is nobody seems to complain much about taxes there, even though it has a marriage penalty (two working spouses pay more than two "live together" non-married ones), and the income tax of 7-8% for middle income Americans is high on a national standard. On top of that, the state charges 4.5% on sales (oct 08), and every county charges 2.5%...so the sales tax is average to high too. And property, although at average 1% ish tax rate for the nation, is high IMHO due to the fact that land values are exploding...thus the rate is average on a national basis, but the valuations are way, way above average.

N.C. isn't a state for those who dislike "working your life away/can't get ahead" sort of taxes...although the other perks may offset this negative.

[theroc5156]

New Jersey taxes everything to pay for their corrupt government.

[scorp200]

At least we have decent roads in NC - the state taxes in NJ and the tolls collected must be going to something else, because it's pothole city up there.

[Asheville Native]

Originally Posted by scorp200

At least we have decent roads in NC - the state taxes in NJ and the tolls collected must be going to something else, because it's pothole city up there.

Where? Maybe around Raleigh, but road money doesn't make it very far from Raleigh.

[scorp200]

Originally Posted by Asheville Native

Where? Maybe around Raleigh, but road money doesn't make it very far from Raleigh.

oops...I was thinking of Raleigh and the triangle...MUCH better than in NJ where you have potholes on major highways