The corporate income tax rate for North Carolina is 6.9%.

The franchise tax is levied on franchises every year. The rate is $1.50 per $1000 of the largest of the following: (1) Capital stock, surplus and undivided profits, (2) 55% of appraised ad valorem tax value of all tangible property in North Carolina, (3) Actual investment in tangible property in North Carolina.

When filing articles of incorporation, the fee is $125. For the application of certificate of authority, the fee is $250. When filing fees with the Secretary of State, some fees may be incurred.

Renewable energy, recycling equipment, equipment mandated by OSHA, and equipment to reduce hazardous waste have special provisions under North Carolina’s tax laws. See the North Carolina Department of Revenue’s website for more information.

Automobiles are taxed 3% (up to $1,500) for the Highway Use Tax.

Items exempt from sales and use tax include containers, labels, packaging and shipping materials, raw materials, and motor vehicles.

In Chatham County, the property tax rate is $0.6219. Taxes are calculated against each $100 in value. If you live in a town or municipality, you will pay the municipal tax in addition to the county tax, as well as any special taxes that may apply. Here’s a list of the current municipality tax rates.

Sales and Use Tax: 6.75% (4.75% to North Carolina, 2.00% to Chatham County)

State of North Carolina Personal Income Tax
Personal Exemption: $1,150
Standard Deduction
Married, Filing Jointly: $6,000
Qualifying Widow(er): $6,000
Head of Household: $4,400
Single: $3,000
Married, Filing Separately: $3,000

Sources: Chatham County Tax Office and North Carolina Department of Revenue