Research Report
More to do on tax reform: Changing how business expenses are deducted
posted November 29, 2015 by Dr. Roy Cordato
North Carolina’s tax code penalizes savings and investment by double taxing their returns— specifically interest, dividends, and capital gains. These biases can only be eliminated by removing savings and investment from the tax base, or by eliminating the returns to saving; for example abolishing the taxation of capital gains.