Governor's budget plan would freeze tax rate cuts, preserving essential public dollars and protecting basic services
Actual and proposed corporate and personal income tax rates in NC
Actual and proposed corporate and personal income tax rates. The Governor's plan would halt the corporate income tax reduction at 2.5 percent and would create a two-tiered personal income tax rate. Those with incomes above $200K/$100K (MFJ/single) would pay 4.75 percent while those with incomes below that would pay 4.6 percent in 2024 and 4.5 percent in 2025.
