What is the personal income tax rate in North Carolina?

5.25%
For Tax Years 2019 and 2020, the North Carolina individual income tax rate is 5.25% (0.0525).

What was the personal exemption in 2014?

$3,950.00
Standard Deduction and Personal Exemption

What is the personal property tax rate in North Carolina?

0.77%
North Carolina’s property tax rates are nonetheless relatively low in comparison to what exists in other states. The average effective property tax rate in North Carolina is 0.77%, which compares rather favorably to the 1.07% national average.

What is the income tax rate in North Carolina?

For Tax Years 2019 and 2020, the North Carolina individual income tax rate is 5.25% (0.0525). For Tax Years 2017 and 2018, the North Carolina individual income tax rate is 5.499% (0.05499). For Tax Years 2015 and 2016, the North Carolina individual income tax rate is 5.75% (0.0575).

Is the state of North Carolina a flat tax state?

North Carolina became a flat tax state, moving from three brackets to just one. Massachusetts, another flat tax state, reduced its rate slightly. Kansas, North Dakota, Ohio, and Wisconsin all made across-the-board income tax rate reductions relative to 2013 rates.

How does property tax work in North Carolina?

Vehicle Property Taxes. Page Content. North Carolina property tax law requires counties to assess the value of motor vehicles registered with the N.C. Division of Motor Vehicles. As part of NCDMV’s Tag & Tax Together program, the vehicle owner pays the property tax at the same time as the vehicle’s registration renewal fee.

What are the income tax brackets for 2014?

(a) 2014 rates but 2013 brackets for CA, ID, MT, and OH. Laws in these states forbid revenue officials from inflation-indexing brackets until mid-year. (b) Tax applies to interest and dividend income only. (c) Rates apply to regular tax table. A special tax table is available for low-income taxpayers which reduces their tax payments.