NC tax overhaul takes effect in 2014 - WNCN: News, Weather

NC tax overhaul takes effect in 2014

Posted: Updated:
RALEIGH, N.C. - North Carolina state leaders say major tax changes taking effect in 2014 will simplify returns, create jobs and keep more money in people's wallets. Critics say the new rules will diminish funds for schools and widen the gap between haves and have-nots.

Gov. Pat McCrory and the Republican state leaders who pushed through the changes this past summer are touting individual and corporate income tax rates that will fall in the new year.

On the other hand, some valuable tax deductions will disappear or get capped. They include breaks granted to small businesses, for some mortgage interest payments and for college savings plans.
  • PoliticalMore>>

  • US: Russia 'created the conditions' for shoot-down

    US: Russia 'created the conditions' for shoot-down

    Wednesday, July 23 2014 12:33 AM EDT2014-07-23 04:33:53 GMT
    The Obama administration said Tuesday it would present data from the U.S. intelligence community laying out what's known about the Malaysia Airlines plane that was shot down in Ukraine.
    Senior U.S. intelligence officials said Tuesday that Russia was responsible for "creating the conditions" that led to the shooting down of Malaysia Airlines Flight 17, but they offered no evidence of direct Russian...
  • Perdue defeats Kingston in Georgia Senate runoff

    Perdue defeats Kingston in Georgia Senate runoff

    Tuesday, July 22 2014 11:46 PM EDT2014-07-23 03:46:40 GMT
    After a bruising nine-week runoff campaign, Georgia Republicans will finally have their Senate nominee who will compete against Democrat Michelle Nunn for a seat the GOP can ill afford to lose as the party looks to...
    Businessman David Perdue has defeated longtime Rep. Jack Kingston in the Republican runoff for Georgia's U.S. Senate nomination, setting up a matchup against Democratic nominee Michelle Nunn that will help determine...
  • New arrest linked to gun used after Boston attacks

    New arrest linked to gun used after Boston attacks

    Tuesday, July 22 2014 10:53 PM EDT2014-07-23 02:53:36 GMT
    A man believed to have provided the gun used by Boston Marathon bombing suspects to kill a college police officer has been arrested on drug and weapon charges.
    A friend of Boston Marathon bombing suspect Dzhokhar Tsarnaev is believed to have provided the handgun used to kill a Massachusetts Institute of Technology police officer during the manhunt, people with knowledge of the...
  • Most Popular StoriesMost Popular StoriesMore>>

  • Sharks in the sound: researchers study aims to ease fears

    Sharks in the sound: researchers study aims to ease fears

    Monday, July 21 2014 6:06 PM EDT2014-07-21 22:06:04 GMT
    Millions of people enjoy North Carolina waters every year. But few of those people stop to think what they may be swimming in.
    Millions of people enjoy North Carolina waters every year. But few of those people stop to think what they may be swimming in.
  • Things You Only Hear in the South

    Things You Only Hear in the South

    Friday, June 20 2014 8:10 PM EDT2014-06-21 00:10:48 GMT
    Here are a mess of words and phrases that make the South unique and awesome.
    Here are a mess of words and phrases that make the South unique and awesome.
  • Audit: Ex-Tarboro manager siphoned off town funds

    Audit: Ex-Tarboro manager siphoned off town funds

    A state audit has determined that the former manager in Tarboro siphoned off more than $450,000 in taxpayer funds to provide himself with unapproved benefits and to buy personal items unrelated to his job.
    A state audit has determined that the former manager in Tarboro siphoned off more than $450,000 in taxpayer funds to provide himself with unapproved benefits and to buy personal items unrelated to his job.
Powered by WorldNow

1205 Front St., Raleigh
N.C., 27609

Telephone: 919.836.1717
Fax: 919.836.1687
Email: newstips@wncn.com

Can't find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.