The Tax Foundation is offering its assessment of North Carolina’s tax reform deal, featuring an analysis of Monday afternoon’s announcement on the organization’s home page. Writer Elizabeth Malm notes some concerns that the reform proposal doesn’t go far enough, but she offers this bottom-line assessment:
Despite these minor criticisms, the plan would most definitely improve North Carolina’s State Business Tax Climate Index score. Currently, North Carolina ranks 44th in the country. The new agreement would move the Tar Heel State up to 17th best. Scores for individual tax components are found below:
Though not as comprehensive as earlier reform proposals, the income tax rate reductions are a good move, as is the flattening of the individual income tax.