Making North Carolina the best place in the world to live, work, learn, play, and do business is no easy feat, but our state has made phenomenal strides over the last few years toward that goal. A driving factor behind those improvements has been our state’s balanced tax reforms.
Before 2013, North Carolina had one of the least competitive tax climates in the nation: the 44th worst, according to the nonpartisan Tax Foundation. But after a series of commonsense reforms, backed by the NC Chamber, we reduced both the individual and corporate tax rates and jumped to the 11th most competitive state in country.
The NC Chamber advocates for tax policy that meets five tax principles we identified after conversations with our members: competitiveness, equity, efficiency, simplicity and certainty. Those fundamental principles will help ensure any tax modernization efforts will accomplish goals including boosting our state’s national and global competitiveness, identifying ways to streamline burdensome regulations, improving outdated systems, and simplifying complicated policies.