Bev Perdue on Corporations

North Carolina Governor

Tax relief for corporations from highest rate in southeast

Tonight I propose giving North Carolina one more tool to attract new jobs and to grow jobs here in existing small businesses: Tax relief for corporations and for small businesses. Right now, we have the highest corporate tax rate in the southeast. That means our businesses are paying more taxes when they could be creating jobs. That's a strike against us from Day One as we work to convince businesses that North Carolina is the best value. Businesses look at more than the bottom line, but the botto line is the big difference maker in a company's relocation decision. So in this budget--we will continue to fund our business incentives for job growth and job recruitment. And I am asking the General Assembly to lower our corporate tax rate to 4.9%--the lowest in the southeast and one of the lowest in the nation. This change will push North Carolina to the forefront in growing jobs for our people. And that, my friends, must be the No. 1 priority for every one of us in this chamber tonight. Source: North Carolina 2011 State of the State Address , Feb 14, 2011

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Page last updated: Apr 24, 2013