Staff The Business Journal Gov. Pat McCrory and Republican leaders in the N.C. General Assembly have struck a deal on tax reform, they said in a joint appearance at the State Capitol Monday afternoon. It features substantial cuts in income taxes on both corporations and individuals, they said, with all individuals’ rates falling to 5.8 percent and corporate tax rates falling to 6 percent next year, 5 percent in 2015 and all the way to 3 percent by 2017. Those cuts reduce tax burdens most dramatically for upper-income taxpayers. At the same time, the plan raises standard deductions, representing a break for lower- and middle-income individual taxpayers. McCrory said the cuts will “make North...
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