The Transylvania Times -

By Park Baker
Staff Writer 

New Laws, Including Income Tax Rate, Go Into Effect For 2019

 

January 10, 2019



With a new year under way, several new laws have gone into effect in North Carolina, including changes in the personal income tax rate.

Starting Jan. 1, the state’s personal income tax rate dropped from 5.499 percent to 5.25 percent. The corporate tax rate dropped from 3 percent to 2.5 percent – the lowest in the country from states that impose a corporate income tax, according to the website www.taxfoundation.org.

For District 11, which makes up the bulk of the westernmost counties in North Carolina, taxpayers will see an average tax cut of $1,322, or 2.2 percent of income.

The...



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