North Carolina has a flat state income tax of 5.25%, which is administered by the North Carolina Department of Revenue.TaxFormFinder provides printable PDF copies of 45 current North Carolina income tax forms. See “Credit for Tax Paid to Another State or Country” on Page 15 of Form D-400 for additional information. North Carolina's income tax rates were last changed two years ago for tax year 2018, and the tax brackets were previously changed in 2012. Locate contact information for state agencies, employees, hotlines, local offices, and more. While we take all precautions to ensure that the data on this site is correct and up-to-date, we cannot be held liable for the accuracy of the tax data we present. No cities in North Carolina have local income taxes. For income tax reporting of a business casualty loss, taxpayers will use IRS Form 4684, Section B—Business and Income-Producing Property. Download .CSV file of NC income tax brackets, Download or print North Carolina income tax forms. Explore data on NC's income tax, sales tax, gas tax, property tax, and business taxes. In the states that do not use income brackets, North Carolina has the highest tax rate. States often adjust their tax brackets on a yearly basis, so make sure to check back later for North Carolina's updated tax year 2021 tax brackets! The use tax applies to purchases made outside the State for use inside the State. If you make your Purchases in your “Home State” or “State of Origin”. Remember that North Carolina may have very different deduction laws from the Federal Income Tax, so you may have to write a whole new list of deductions for your North Carolina income tax return. The North Carolina tax brackets on this page have been updated for tax year 2020, and are the latest brackets available. The Federal Income Tax, in contrast to the North Carolina income tax, has multiple tax brackets with varied bracket width for single or joint filers. Contact. The Personal Exemption, which is not supported by the North Carolina income tax, is an additional deduction you can take if you (and not someone else) are primarily responsible for your own living expenses. The chart below breaks down the North Carolina tax brackets using this model: eFiling is easier, faster, and safer than filling out paper tax forms. For comparison purposes, however, your North Carolina tax bracket is the tax bracket in which your last earned dollar in any given tax period falls. See “Credit for Tax Paid to Another State or Country” on Page 15 of Form D-400 for additional information. Source:  http://www.dor.state.nc.us/downloads/D401.pdf, A part-year resident receiving partnership income from a partnership doing business in. The current values of these deductions for tax year 2020 are as follows: The standard deduction, which North Carolina has, is a deduction that is available by default to all taxpayers who do not instead choose to file an itemized deduction. North Carolina taxpayers are choosing a faster, more convenient way to file their State and Federal individual income tax returns by electronically filing. A part-year resident receiving partnership income from a partnership doing business in North Carolina. This can make filing state taxes in the state relatively simple, as even if your salary changes, you'll be paying the same rate. North Carolina now has a flat state income tax rate of 5.25%. The Federal income tax also has a standard deduction, personal exemptions, and dependant deductions, though they are different amounts than North Carolina's and may have different rules. If you have income from sources within another state or country while you are a resident of North Carolina and the other state or country taxes you on such income, you may be eligible to claim a tax credit on your North Carolina return. Income taxes accounted for 37 percent of state tax revenues in fiscal-year 2017, the analysis said. nc state income tax calculator, nc tax calculator for paycheck, nc tax withholding calculator 2020, nc food tax calculator, nc state tax rate, nc auto sales tax calculator, nc sales tax calculator, nc paycheck calculator 2020 Haji Ali will successfully prove … Items that are subject to sales tax include. Most states will release updated tax forms between January and April. John Szoka of Cumberland County is one of the bill’s primary sponsors and says the state has had too many military retirees leave due to the state's 5.25 percent income tax. This state has a single-rate tax structure of 5.25%, surpassing other states including New Hampshire (5%), Massachusetts (5.05%), and Kentucky (5%). The greatest benefit of education savings plans is that funds grow tax-free. Essentially, it translates to $8,750.00 per year of tax-free income for single North Carolina taxpayers, and $17,500.00 for those filing jointly. http://www.dor.state.nc.us/downloads/D401.pdf, Choosing a Retirement Plan 403(b) for State Workers, Teachers, Cut Medical Costs with Health Savings Accounts, Four Credits that Can pay you at Tax Time, IRA Advantages and What to Look for In 2011, New Jersey Taxation of Retirement Benefits, Part Time Residence in NC and Your Tax Situation. North Carolina's income tax rates were last changed two years ago for tax year 2018, and the tax brackets were previously changed in 2012.. North Carolina has a flat income tax rate which applies to both single and joint filers. 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