North Carolina Department of Revenue, North Carolina Tax

North Carolina Business Corporate Tax, North Carolina Personal Income Tax, North Carolina Sales Tax Rates

What is the North Carolina Corporate net income tax rate(s)?

6.9% with a minimum tax payment of $35. There is a franchise tax on assets in North Carolina of $1.50 for every $1000.

What is the North Carolina personal net income tax rate(s)?

What is the average North Carolina sales tax rate(s)?

8.07%. The state has a 5.75% tax, but the average local tax is 2.32% making a total of 8.07%.

Are there standard deductions?

Single:  $3,000
Joint:  $6,000

Are there personal exemptions?

Single:  none
Dependants:  none

What forms do you file for your North Carolina taxes?

C corporations:   Form CD-405
S corporations:   Form CD-401S
Partnerships:   Form NC-40
Individual:   Form D-400

Estimated tax payments?

Form NC-40 for personal filers. North Carolina follows the IRS standards for estimated payments. If you will owe $1000 or more in tax for the current year, you are required to make 90% of the tax due, over quarterly payments. It has to be at least 100% of the previous year, even if you think you won't make as much in the current year.

North Carolina Department of Revenue:

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