The Tax Foundation, a Washington D.C. based nonpartisan tax policy research organization, has released its 2024 State Business Tax Climate Index.
The Index “enables business leaders, government policymakers, and taxpayers to gauge how their states’ tax systems compare,” by analyzing “how well states structure their tax systems” while also providing “a road map for improvement,” and has been released annually since 2006.
North Carolina improved to the 9th slot in the ranking, up from 10th in last year’s Index.
The continued lofty ranking demonstrates the last dozen years of significant tax reforms enacted by the state legislature, making North Carolina a far more attractive place for investment and job creation.
Prior to the historic tax reforms of 2013, North Carolina ranked 7th worst in the Tax Foundation index. The turnaround has been dramatic, to the benefit of working North Carolinians.
And North Carolina’s tax reforms will continue, with additional personal income tax cuts and a phase-out of the corporate tax scheduled to take place over the next several years.
