The DMV site that kelly237 posted has all of the info, but here's a quick summary:
1) Obtain NC liability insurance.
2) Get an NC driver license (they will ask to see your proof of insurance, SS card, etc.).
3) Apply for an NC title and license plate at any DMV tag office after your permanent DL arrives in the mail. You'll pay the license fee and highway use tax when you apply for the title/plate.
4) Your property tax bill will be sent to you by your county of residence (Wake, in the OP's case) about 3 months after registration.
Note that you can go to any DL office or tag office in the state, not just the ones in your county. Only cash and checks are accepted for both DLs and tags.
There is a safety/emissions inspection requirement, but since you're coming from out of state, you won't need an inspection until your first annual tag renewal comes up: NCDOT Division of Motor Vehicles: No More Sticker! New Electronic Inspection