Today, for the first time in ten years, the U.S. House of Representatives has voted to repeal the federal estate tax. The final vote on HR 1105 was 240-179, with 233 Republicans and 7 Democrats voting yea. The bill was...
- North Carolina Tax Reform Options: A Guide to Fair, Simpl...
North Carolina Tax Reform Options: A Guide to Fair, Simple, Pro-Growth Reform
APPENDIX A: REVENUE ESTIMATES
(billions of dollars)
Source: Tax Foundation calculations.
Source: Tax Foundation estimates based on Personal Consumption data (Table 2.4.5U) from the Bureau of Economic Analysis, applied to North Carolina’s share of national personal income.
*Items are excluded from sales tax due to the levy of a higher separate tax. Purchases of alcohol and tobacco are subject to separate excise taxes; utilities are subject to a separate gross receipts tax; accommodations are subject to local hotel taxes.
**The separate 3% amusements tax would be replaced by the state sales tax in each option.
***Percentage for current sales tax base excludes business-to-business transactions.
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