TAXES
Basic business taxes in North Carolina include a franchise tax of $1.50 per
$1,000 on issued and outstanding stock allocated to North Carolina operations,
a 7.25% tax on corporate net income (allocated by sales, payroll, and property),
and a sales tax (4.25%) to state and 2.5% locally, where applicable) with reduced
rates for certain industrial purchases. While all property (real and personal,
including intangibles) is subject to local taxes in North Carolina, inventories
of manufacturers are specifically exempt.
2008-2009 TAX RATES PER $100
ASSESSED VALUATION
| COUNTIES AND MUNICIPALITIES |
Lenoir |
Grifton (Lenoir Co) |
Kinston |
LaGrange |
Pink Hill |
| YEAR OF LATEST REVALUATION |
2001 |
|
|
|
|
| COUNTY- WIDE |
0.84 |
0.84 |
0.84 |
0.84 |
0.84 |
| MUNICIPAL SERVICE DISTRICT |
... |
... |
*** |
... |
... |
| CITY OR TOWN |
... |
0.55 |
0.66 |
0.50 |
0.58 |
| TOTAL OF ALL JURISDICTIONS |
0.84 |
1.39 |
1.50 |
1.34 |
1.42 |
NOTES:
Eleven fire districts: North Lenoir, $.045; Hugo, $.04; Grifton, $.03; Mosely Hall,
$.04; Southwood, $.06; Deep Run, $.04; Seven Springs, $.04; Sandy Bottom, $.08; Wyse
Fork, $.065; Sand Hill, $.07; Cherry Tree, $.08.
***Kinston downtown municipal service district, $.27.
Source: North Carolina Department of Revenue
|
