NC Tax rates (sales, real estate, new home)

[NChereicome]

Does anyone know what the State, Federal and income tax rate is in NC? Thanks.

[welovedurham]

This will help:
N.C. Department of Revenue: Home

[louiemoon0810]

I just moved here from PA where the state income tax was something like 3% (or maybe 2.8%).....????.....don't quote me on the %. And now in NC, it's 8%.

Anyway, I keep reading posts about how taxes are lower in NC. Taxes aren't the reason that I moved here, but could someone explain what people are talking about? The 5% difference in state income tax has made quite a dent in my paycheck.

Yes, I don't have to pay local (municipality) income tax, like I had to in PA....it was 1.5%, but that still doesn't make up the difference.

Are people talking more about real estate tax %'s being lower here???

[urbywan]

Add up your income tax and your real estate tax and bingo its as high as anyplace else. Yes the 8% is the high end of the state income tax and yes most make it to that level. So the 2000 dollar income tax is more like 4000 here than we paid in NJ but the realestate tax of 8000 in nj is now 3300 then they tax the two cars 400 and tax your food and clothes and walla the same tax rates.

Yes the same tax rate or better the same tax baggage when you add everything up from NJ and NC, just taxed differently but comes out the same in the wash.

[louiemoon0810]

Originally Posted by urbywan

Add up your income tax and your real estate tax and bingo its as high as anyplace else. Yes the 8% is the high end of the state income tax and yes most make it to that level. So the 2000 dollar income tax is more like 4000 here than we paid in NJ but the realestate tax of 8000 in nj is now 3300 then they tax the two cars 400 and tax your food and clothes and walla the same tax rates.

Yes the same tax rate or better the same tax baggage when you add everything up from NJ and NC, just taxed differently but comes out the same in the wash.

Thanks for the additional explanation. I'm no tax expert....but I thought something seemed fishy, when I previously did the math.

Question.....what do you mean by "most of us make it to that level"? Again, I'm no tax expert. Whatever my company takes out of my paycheck, is what I figure I owe. This may be a dumb question, but are the state taxes higher/lower based on salary? What salary range is taxed at the 8%?

[urbywan]

I think its at the 50K range. Most families that live down here in the triangle make above the median of 48K

I gotta figure out my tax stuff.

[sls76]

Don't forget if you itemize, you get to take off your deductions to figure your NC taxable income. That makes a big difference for us. I know we paid 3% in IL, but it was on everything. I'm not sure if that's how it is in PA or not. I agree though, it still seems high.

[NChereicome]

Does anyone have any info on Federal and State tax in NC? I checked out the NC IRS website but only found income tax info.

[NChereicome]

Originally Posted by louiemoon0810

I just moved here from PA where the state income tax was something like 3% (or maybe 2.8%).....????.....don't quote me on the %. And now in NC, it's 8%.

Anyway, I keep reading posts about how taxes are lower in NC. Taxes aren't the reason that I moved here, but could someone explain what people are talking about? The 5% difference in state income tax has made quite a dent in my paycheck.

Yes, I don't have to pay local (municipality) income tax, like I had to in PA....it was 1.5%, but that still doesn't make up the difference.

Are people talking more about real estate tax %'s being lower here???

The Real Estate taxes are definetly lower in NC then they are in Long Island, NY. I guess it really comes down to what the RE taxes are where you originally came from. For me personally, the RE tax is a third in NC for a brand new home then I pay now in Long Island.

[sls76]

Originally Posted by NChereicome

Does anyone have any info on Federal and State tax in NC? I checked out the NC IRS website but only found income tax info.

What do you mean by federal tax in NC? By state do you mean sales tax? The only taxes I'm aware of as an individual for NC are state income, real estate, sales and personal property.