Last month, your Director of Government Affairs Jason Soper attended the Council on State Taxation (COST) Annual Meeting in Arizona to learn about the latest updates in tax law from other states & share perspectives from North Carolina. Jason works closely with legislators at the North Carolina General Assembly to promote a business-friendly tax climate in our state and we were pleased he had the opportunity to share some of our success stories at this event.
While the tax reforms we helped pass in 2013 transformed North Carolina’s tax climate, launching us from 44th worst to 12th best (as of this year), there’s always more to do to create a pro-growth environment that keeps your businesses and our state competitive.
That’s why we were proud to accomplish a number of policy wins for the business community in the 2018 legislative session. However, several tax changes presented some new challenges for us to work on next year. Jason shared some of these issues at the conference, including the need to fix issues surrounding the conformity of the 163 (j) provision about the limit on interest expense deductions and the ill-advised expansion of the franchise tax. (As a reminder, if your business might be affected by the franchise tax changes, we want to hear from you – fill out this quick form to let us know.)
Each new legislative session is an excellent opportunity for our team to work with anyone and everyone we can to keep North Carolina moving forward, and we’re looking forward to what’s to come. With the lessons learned from COST’s annual meeting, as well as your continued feedback and input, I’m confident we will continue to secure pro-growth wins that benefit us all.