People are suffering from layoffs and tighter budgets due to the downturn in the economy. The state of NC decided that a tax hike in sales tax, income tax, and various other "fees" was just what we needed in order to get everything back on track. Everything in their arena that is.
Today the NC state sales tax rate goes from 6.75 to 7.75% here in wake county.
The general assembly and governor also signed an "income tax surcharge" into effect. A very creative way of saying tax hike.
This is supposedly a "temporary" measure. The extra cent charged on every $1 in purchases expires July 1, 2011, while the income tax increase expires at the close of 2010. Don't hold your breath.
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Thank you NC for yet even more stifling taxes on an already beleaguered economy.