NORTH CAROLINA
Welcome to North Carolina!
There are SO many wonderful cities in North Carolina that we can't wait for you to explore. North Carolina offers a range variety of atmospheres, making it suitable for many different individuals, couples, and families.
Enjoy!
North Carolina Taxation
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North Carolina has a state levy of 4.75%. Localities can add as much as 2.75% and the combined average rate is 6.95%, according to the Tax Foundation. Groceies are not taxed by the state, but a 2% local tax is levied.
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Social Security benefits are not taxed.
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A tax break known as the “Bailey exemption” remains despite the elimination of previous tx breaks; this tax break exempts from taxation certain retirement benefits received by a state or federal government retiree, if the retiree has five or more years of creditable service as of August 12, 1989. Railroad Retirement income is not taxed.
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IRA, 401(k)s, and Other Defined-Contribution Employer retirement plans, Private Pensions, Public Pensions are taxable at the flat tax rate.
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There is no Inheritance or Estate Tax.
Kiplinger.com
