Panel urges tax reform
Submitted by ryanteaguebeckwith on April 14, 2009 – 9:09am.
The Institute for Emerging Issues says its time to revamp state taxes.
A committee created by the Raleigh-based think tank said Tuesday that the General Assembly should pass tax reform this year to help keep North Carolina business-friendly.
The committee said sales taxes and corporate and personal income taxes should be reduced, while exemptions and loopholes are eliminated.
Former Charlotte Mayor Richard Vinroot, who ran for governor as a Republican, co-chaired the committee. He said local governments should have more options to raise their own funds.
Senate Democrats are considering whether to lower tax rates while taxing some services. (AP)
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