Business Information & Rankings
- North Carolina is the nation’s 11th most populous state. There are currently more than 8 million people live in North Carolina. The state’s rate of growth makes it the 5th highest in the nation from 1995-2000, and by the year 2025, North Carolina’s population is estimated to reach 9.3 million. (NC Commerce).
- Site Selection magazine ranked North Carolina as the number one business climate in the US. (2005)
- World Trade magazine ranked North Carolina as one of the Top Ten Places to do Business. (2005)
- North Carolina ranks 1st in manufacturing employment and 2nd in the number of manufacturing facilities for the Southeast region. (Manufacturing News Inc., 2006).
Studies show that N.C. workers produce more output per wage dollar than their counterparts do nationally. (Charlotte Chamber of Commerce website).
Cost of living
|For Charlotte, NC (2005)||Index Score|
|Misc. Goods & Services:||103.9|
North Carolina has the 37th lowest overall crime ranking in the U.S. (FBI, 2004)
Fees & Taxes
Business Inventory Tax
Business inventory is exempt.
Corporate Income Tax
North Carolina’s corporate tax structure consists of a flat 6.9% rate.
Personal Income Tax
North Carolina’s personal income tax system is one of the nation’s most expensive, composed of four brackets with a top rate of 8.25% starting at an income level of $120,000.
Personal Property Tax
North Carolina taxes real property, motor vehicles and personal property (inventories and household personal property are exempt). They do not tax intangibles.
State Sales and Use Tax
Base Rate: 4.5%*
Machinery Rate: 1%
*Most taxable sales or purchases are also subject to the state tax as well as the 2.5% local tax rate levied by all counties, for a combined 7%.
North Carolina’s new employers’ rate is 1.2% for 2 years.