N.C. Senate approves cash incentives for going back to work
A state legislative bill that would provide a return-to-work cash incentive cleared the state Senate on Tuesday. However, a House bill was put on pause in the Senate Rules and Operations committee that would gradually eliminate the stateâs corporate income tax. The latest version of House Bill 334 contains several tax-related proposals, perhaps foremost reducing the corporate income tax rate from 2.5% to 0% in 2028. The 2.5% rate already is the lowest among the 44 states that have a corporate income tax. House Bill 128 cleared the Senate by a 34-11 vote. Because Senate Republican bill sp...