NCPI Workmark
Articles in regional publications that pertain to a wide range of North Carolina-related topics.

Credit for Federal Taxes Paid Would Deplete the General Fund

Record #:
The North Carolina State Department of Tax Research has been investigating the discussion of the proposal to give credit on state taxes for income taxes paid to the federal government. Research into other state approaches has shown that with this system, equity is not served to the taxpayer, there are problems with administration and budgeting, and most of all, there is a loss of total revenue from the state's General Fund.