Connect with us

North Carolina

Mike Walden: How does NC compare on taxes? – Salisbury Post

Published

on

Mike Walden: How does NC compare on taxes? – Salisbury Post


Mike Walden: How does NC examine on taxes?

Printed 12:00 am Sunday, April 23, 2023

By Mike Walden

A few days in the past my spouse heard an enthusiastic “Yippee!” from my house workplace. “What was that for?” she requested. “Did your Cincinnati Reds lastly win a recreation?” My spouse – who was born in New York – generally takes pleasure in reminding me how unhealthy my hometown skilled baseball group has carried out in recent times.

“Simply to your info,” I shortly responded, “the Reds did win final night time.” However that wasn’t why I shouted. As an alternative, I used to be excited as a result of the newest Info and Figures from the Tax Basis was simply launched. I believe I heard my spouse reply with, “Knock your self out.”

Advertisement

I understand that for non-economists, studying about taxes shouldn’t be their finest type of enjoyment. However if you wish to take a look at the taxes of states, and particularly to match each the extent and sorts of taxes amongst states, then Info and Figures is an indispensable useful resource.

In fact, my focus right here will probably be on North Carolina’s taxes. Because it takes time to compile and publish authorities knowledge, a lot of the info cited within the 2023 version of Info and Figures is from 2020, 2021 or 2022.

Let’s start by wanting on the large image. The relative dimension of taxes in any state is captured by two measures: complete taxes per capita (complete taxes divided by inhabitants), and complete taxes as a proportion of complete earnings earned within the state. Complete taxes embrace taxes paid to the state authorities in addition to taxes paid to all native governments in that state. Federal taxes are omitted.

North Carolina ranks thirty second amongst all states for complete state and native taxes per capita, and it ranks thirty first for the proportion of complete earnings taken by state and native taxes. Therefore, North Carolina ranks close to the decrease one-third of states on the relative dimension of taxes.

It’s additionally necessary to match North Carolina taxes to different states within the instant area.   Based mostly on per capita and per earnings measures, North Carolina has increased taxes than the neighboring states of South Carolina, Tennessee, Georgia and Florida. Within the instant area, solely Virginia has increased per capita and per earnings tax charges.

Advertisement

Along with wanting on the complete tax image, it’s informative to look at the particular sorts of taxes states use. Info and Figures follows 5 classes of taxes: particular person earnings tax, company earnings tax, basic gross sales tax, property tax and different taxes.

In comparison with the averages for the opposite states, North Carolina collects comparatively extra of its complete state and native taxes from the overall gross sales tax and the person earnings tax, and comparatively much less from the property, company earnings and different taxes. Particularly, North Carolina’s assortment of company earnings taxes is just half of the common state assortment on a proportion foundation.

This distribution of tax makes use of has created a long-standing debate in North Carolina over whether or not particular person and family taxes from the person earnings tax and gross sales tax are too excessive in comparison with the a lot decrease company earnings tax. Critics say the present distribution favors firms an excessive amount of. Supporters say the state’s low company earnings tax – particularly in comparison with different states within the Southeast – is a significant component behind North Carolina’s glorious document in attracting companies and jobs to the state.

One tax I haven’t talked about but, however which is a tax most of us pay as soon as or a number of occasions per week, is the state gasoline tax. North Carolina has a comparatively excessive fuel tax price per gallon in comparison with different states. The state’s fuel tax is Sixteenth- highest among the many 50 states. Nonetheless, within the Southeast, Florida and Georgia’s fuel tax price is increased than North Carolina’s.

There’s a simple rationalization for the excessive degree of North Carolina’s fuel tax. It has to do with how roads are financed in a state. In North Carolina, most street tasks are financed on the state degree, the place the fuel tax is the first supply of funding. Comparatively few street tasks are paid by county and metropolis governments.

Advertisement

Nonetheless, in lots of states the monetary accountability for paying for roads is extra evenly break up between state and native governments. For the native share, property taxes are the main funding supply. In these kind of states, the lowered street funding from the state degree permits fuel tax charges to be extra reasonable.

Let me conclude by discussing an alternative choice to taxes: borrowing. Whereas states and localities shouldn’t have the power just like the federal authorities to make use of borrowing instead to taxes for nearly any sort of public spending, borrowing can nonetheless differ among the many states. Some states have a lot bigger debt burdens than others.

North Carolina is among the many states with the bottom public debt. Measured as complete state and native (counties and cities) debt per capita – that’s, complete state and native debt for each particular person – North Carolina ranks forty eighth, which means 47 states have a better relative debt degree and solely two states (Wyoming and Idaho) have a decrease relative debt degree than North Carolina. In greenback phrases, North Carolina’s complete state and native debt per particular person is half the common for all states.

I do know this column has introduced many, many numbers and rankings. However learning taxes lends itself to numbers. Hopefully I’ve supplied a superb abstract of taxes in North Carolina. Now it’s as much as you to determine if our tax system works properly or if some tinkering is required.

Mike Walden is a William Neal Reynolds Distinguished Professor Emeritus at North Carolina State College. 

Advertisement



Source link

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

North Carolina

Transitional shelter assistance extended for Helene victims in western NC, FEMA says

Published

on

Transitional shelter assistance extended for Helene victims in western NC, FEMA says


Federal Emergency Management Administration (FEMA) officials announced on Sunday that they extended transitional sheltering assistance to families in western North Carolina affected by Hurricane Helene.

According to FEMA, residents and families receiving hotel lodging while looking for alternative housing will be allowed to stay in hotels until May 25, with hotel check-out on May 26.

“This is a positive development,” North Carolina Gov. Josh Stein said on X. “I pledge to work with the new administration to support displaced North Carolinians and help folks recover.”

The extension comes after reports of people being kicked out of hotels FEMA provided.

Advertisement

“If any survivors still need housing assistance or feel their TSA eligibility ended in error, they should immediately call the FEMA helpline at 1-800-621-3362,” FEMA said on Monday.

If you were impacted by this situation and would like to share your experience with WRAL, go to wral.com/reportit.



Source link

Advertisement
Continue Reading

North Carolina

Major update in gruesome murder of glamorous North Carolina realtor found dead inside her townhouse

Published

on

Major update in gruesome murder of glamorous North Carolina realtor found dead inside her townhouse


A major breakthrough has developed in the gruesome murder of a glamorous North Carolina realtor who was found ‘wrapped in bloody bedding’ inside her luxury townhouse.

The lifeless body of Charlotte real estate agent Whitney Hurd, 32, was discovered in her upscale South Park home last July after she was reported missing by her family.

She was brutally stabbed to death in the chest, according to an autopsy report released in October.

After six months without an update, police finally have a lead in the case.

Advertisement

Brandon Braxton, 34, a man with a disturbing criminal past, has been named a person of interest, according to a search warrant of his home on unrelated charges.

Braxton is currently behind bars at Mecklenburg County Jail on unrelated charges.

His troubling criminal history includes allegations of misdemeanor larceny, simple assault, injury to real property and indecent exposure. 

It is unclear if he has entered a plea to those charges, and their respective case is still ongoing.

Advertisement

The lifeless body of Charlotte realtor Whitney Hurd, 32, was discovered in her upscale SouthPark townhouse last July after she was reported missing by her family

Brandon Braxton, 34, a man with a disturbing criminal past, has been named a person of interest in the chilling case (July 24, 2024)

Brandon Braxton, 34, a man with a disturbing criminal past, has been named a person of interest in the chilling case (July 24, 2024)

Just last week, while investigators were building their case in Hurd’s murder, Braxton was arrested for allegedly stealing from a woman and punching a man in the face – adding to his lengthy criminal record. 

Lindsey Newsome was running a dog adoption fundraiser at a south Charlotte restaurant when she said she had a terrifying encounter with Braxton.

‘He started talking to me a little bit saying he had been wanting to adopt a dog,’ Newsome told WSOC-TV.

Advertisement

What started as an innocent conversation quickly turned frightening.

‘I was screaming for help. I said, ‘He’s got my money, he’s got my money. Can you help me?” she recalled after Braxton allegedly snatched her bag and fled.

A good Samaritan tackled Braxton near a hotel and held him in a chokehold until police arrived – before getting punched in the face by the suspect.

‘I was just scared. I was in shock,’ Newsome said of the ordeal.

Court records reveal a disturbing pattern of alleged violence that has escalated recently. 

Advertisement
Brandon Braxton's January 2 mug shot
Brandon Braxton's other mug shot from his recent arrest
Brandon Braxton's October 2024 mug shot

Braxton’s violent history has continued to escalate in recent months. Just last week, while investigators were building their case in Hurd’s murder, Braxton was arrested for allegedly stealing from a woman and punching a man in the face – adding to his lengthy criminal record

In the days before the fundraiser incident, Braxton allegedly threw a brick through a man’s window in Ballantyne, punched a man in the face at a gas pump in the same area, and shattered a Harris Teeter window on Providence Road with a rock.

Police documents note Braxton is known for ‘random acts of violence.’

Just months after Hurd’s death, Braxton was arrested again in October – this time for indecent exposure.

Advertisement

Search warrants reveal that investigators discovered ‘clothing, shoes and a knife’ during a search of Braxton’s property.

A subsequent warrant requesting DNA swabs stated there was ‘probable cause that a murder has been committed and that the DNA of Brandon David Braxton… is evidence of that murder.’

Despite mounting evidence, Charlotte-Mecklenburg Police have not officially named suspects in Hurd’s death.

He is set to remain in custody in the meantime for those unrelated charges.

Hurd, described by friends as a vivacious 32-year-old in Charlotte’s competitive real estate market, vanished without a trace on July 11, 2024. 

Advertisement
Her luxury BMW, which had sparked a citywide search, was recovered a week later under circumstances police have kept quiet

Her luxury BMW, which had sparked a citywide search, was recovered a week later under circumstances police have kept quiet

The desperate search for the beloved realtor came to a tragic end when a private investigator hired by her family made the horrifying discovery.

‘I’m helping the family look for a missing daughter… the body’s here,’ the investigator told 911 operators in a haunting call that would mark the beginning of a six-month investigation.

The young realtor’s body was found ‘wrapped in a pile of bloody bedding’ inside her townhome off Werburgh Street in the exclusive Magnolia Park community.

Her luxury BMW, which had sparked a citywide search, was recovered a week later under circumstances police have kept quiet.

Advertisement

‘It was something we’re not used to happening in this area,’ Carolina Harris, a neighbor who lives just doors away from the crime scene, told WBTV.

Another resident, Tyler Everett, expressed the community’s growing unease.

‘I’m close to that same age so you don’t think of that being a possibility,’ Everett told WBTV.

‘It was devastating for everybody around here and to not know anything is obviously concerning as well.’

Investigators delved into Hurd’s activity on the dating app Hinge, where her mother revealed she ‘was active’ and ‘was talking to several different men’ before her death.

Advertisement
The young realtor's body was found 'wrapped in a pile of bloody bedding' inside her townhouse off Werburgh Street in the exclusive Magnolia Park community

The young realtor’s body was found ‘wrapped in a pile of bloody bedding’ inside her townhouse off Werburgh Street in the exclusive Magnolia Park community 

But it was fingerprint evidence that led authorities to Braxton, court documents show.

‘They were friends since high school and Whitney has always been generous and loving to anyone in need.’

Since the gruesome murder, community members have expressed growing fears.

‘I live only half a mile from where Whitney did and am terrified of going out alone now. I went to high school with her as well and remember her as such a sweet, beautiful person. If anyone who knows her is reading this, I would help organize something for justice and awareness,’ one resident posted.

Advertisement

Her obituary describes Hurd as a vivacious young woman whose life was cut short.

A proud graduate of Providence High School and the University of South Carolina graduating in 2014, Hurd was remembered for her ‘infectious smile and laugh.’

She was a devoted aunt to her nephew Camden and niece Catherine, whom she adored deeply, and a loving member of Delta Delta Delta sorority.

She also cherished her cute mini Bernadoodle, Luna, her obituary states.



Source link

Advertisement
Continue Reading

North Carolina

Chance of snow this week more likely east and south in central NC

Published

on

Chance of snow this week more likely east and south in central NC


RALEIGH, N.C. (WTVD) — We’re not even one month into 2025, and there’s already a second chance to see snowfall in central North Carolina.

Most of the week will be rather cold with temperatures in the 30s to 40s.

Spotty showers are likely on Sunday, amounting to 0.10 to 0.20 inches. This is not all that impactful for the region, and it’s too little rainfall to make any big dent in the drought conditions across the Triangle. The chance for any backside mixed in snowflakes Sunday afternoon looks fleeting, but you’re more likely to see it in far eastern portions of the viewing area.

Another chance for precipitation will be on Tuesday night (more snowy) and Thursday into Thursday night (more icy).

Advertisement

Tuesday: There can be a path of 1 to 3 inches of snow in the southern/eastern parts of central NC.

Thursday: There is a risk of some freezing rain at night, more likely in the eastern parts of central NC. Details beyond this are limited.

Click here for latest school closings

MORE COVERAGE



WATCH | First Alert to Winter Special 2024

Advertisement

In this week’s special First Alert to Winter show, the team looks at snow chances, the winter forecast and getting ready for wintry weather.

Copyright © 2025 WTVD-TV. All Rights Reserved.



Source link

Continue Reading

Trending