bizSearchTaxing food items is a bad idea
There’s a lot of talk about tax reform in North Carolina. One plan being discussed by legislators would expand the sales tax on sales and services while abolishing the corporate and income taxes. The sales tax rate I’ve heard mentioned is around 8 percent — up from the current 6.75 percent, which includes a 2 percent local option tax and a 4.75 percent state tax.
One of the proposals being discussed would raise the total combined sales tax rate to 8.05 percent and would do away with the exemption on food items, which are currently exempt from state sales tax, but subject to a 2 percent local tax.
I decided to save a couple of grocery slips and see how an 8 percent food tax would affect our family budget. I'm not sure how typical my food-buying experience is. We raise our own beef, so the ...
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