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Old 03-14-2007, 07:33 AM
Location: Crown Town
2,742 posts, read 5,987,428 times
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Study: N.C. biz tax burden tied for lowest in U.S.

Triangle Business Journal - 2:58 PM EDT Tuesday, March 13, 2007

Businesses in North Carolina enjoy the lowest tax burden in the United States, according to a study prepared for the Council on State Taxation.

The report, prepared by tax experts at Ernst & Young, found that combined local and state taxes paid by North Carolina businesses amount to 3.9 percent of the gross state product. That rate tied North Carolina with four other states - Connecticut, Delaware, Oregon and Virginia - as having the lowest U.S. business tax burden.

The highest burden in 2006 was carried by Wyoming businesses, who paid taxes equivalent to 10.8 percent of the state's gross state product.

In 2006, North Carolina businesses paid $11.6 billion in local and state business taxes.

The 50-state study used public information to estimate the business share of a variety of 26 taxes at the state and local government levels.

The Council on State Taxation is a nonprofit trade association consisting of about 550 multistate corporations engaged in interstate and international business. The organization promotes "equitable and nondiscriminatory state and local taxation."

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