Source: WRAL, 12/31/18

North Carolina is again cutting personal and corporate income tax rates. A law passed by the Republican-led General Assembly takes effect Tuesday reducing the state tax on personal wages and other earnings from about 5.5 percent to 5.25 percent. The corporations will pay be less than half the personal rate after Wednesday, when their state income tax obligation falls from 3 percent to 2.5 percent.

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