Senate plan would expand sales tax, lower NC rates
Senate Republicans have rolled out the frame of their tax overhaul plan for North Carolina they say will cut income tax rates while expanding the scope of the sales tax.
Senate leader Phil Berger announced the release of a video Monday night in which the Eden attorney lays out some of the highlights of the plan. Berger and leaders of the chamber's tax committee scheduled a news conference Tuesday to talk more about the details.
Berger says in the video the plan would reduce the top individual income tax rate over the next three years to 4.5 percent and reduce the corporate income tax to 6 percent. The sales tax rate also would go down but the type of sales to be taxed would be expanded.
Copyright 2013 The Associated Press.