Taxes
From tax incentives for qualifying businesses to income tax preparation classes, we can help put your business in the position to succeed.

 

State of North Carolina

The State collects personal and corporate income tax. A brief summary is provided below. For detailed information please visit the North Carolina Department of Revenue.

 

Personal Income Tax

Flat tax rate: 5.499% (2018) / 5.25% (2019)

 

Corporate Income Tax

Only C-corporations and entities that elect to be taxed as C-corporations are subject to the corporate income tax.

Tax rate: 3% (2018) / 2.5% (2019)

 

Sales and Use Tax

 

Combined Rate for Wake County: 7.25%

State of NC sales tax rate: 4.75%

Wake County sales tax rate: 2% 

Local Transit tax rate: 0.5%

 

City of Raleigh

 

There is no local income tax. 

 

The City of Raleigh receives revenues through ad valorem property taxes. The rate is a combination of city and county taxes. Tax rates are calculated against each $100 in value. 

 

Property Tax

 

Raleigh: $0.4382

Wake County: $0.7207

Combined Rate: $1.1589

 

In North Carolina, property taxes are locally-assessed and collected by counties. Taxes rates are based on 100% of a property’s assessed value and are applied per $100 of assessed value. Real property taxes can include a combination of county, municipal, fire and special district tax rates. Properties falling within the City of Raleigh’s corporate limits are taxed at a base rate that includes the county and municipal rate. Based on where the subject property falls, a special district rate (Hillsborough St Municipal District,  Raleigh Municipal District) may also apply. 

For a comprehensive list of local taxes visit – www.wakegov.com/tax 

 

Raleigh4u RT @WSJVC: Drone startup PrecisionHawk has raised $32 million in Series E funding https://t.co/4BB1qqXMSP
Raleigh4u RT @RaleighGov: New Council member Saige Martin talks about the importance of true, personal engagement with the community at the @raleighc
Raleigh4u RT @RaleighWake: Innovation industries cluster in cities where there are highly educated workers, sophisticated suppliers & research instit…
Raleigh4u Who's going?! 🙋‍♂️🙋‍♀️ We'll see you there!🎨 https://t.co/U3ak41iESy
Raleigh4u RT @CapitalAreaWD: There are a few high-growth industries in the Triangle that need workers! There are many positions available and we're w…
LaunchRaleigh RT @DerrickMinor: Great post by @chrisheivly on the impact of local influencers on the health of a startup community. This was (and continu…
LaunchRaleigh RT @RaleighWake: #Raleigh-based @pendoio CEO Todd Olson reflects on #growth & the future in a recent @Inc article, "the way we continue gro…
LaunchRaleigh RT @Raleigh4u: #Raleigh ranked #13 Most Educated City in America by @WalletHub. "Educated people want to live somewhere where they will get…
LaunchRaleigh RT @InnovateRaleigh: Join us 8/27 at @HQRaleigh for @ncopenpass Lightning Talks! ⚡️ Speakers will have 5 minutes for talks on mapping redl…
LaunchRaleigh RT @ncopenpass: Join us August 27 at @HQRaleigh for our first event of the fall - NC Open Pass Lightning Talks. Come hear speakers share 5…