The article "How to Reform North Carolina's Tax Code" by Elon Law professor Andy Haile was published in the December 20 edition of State Tax Notes. Haile's article originally appeared in Addendum, an online publication of the North Carolina Law Review.
Haile’s article explores weaknesses in North Carolina’s current tax code and suggests alternatives to modernize the state’s existing tax structure.
In the article, Haile situates North Carolina’s budgetary challenges within the context of the economic recession that has impacted states across the country, noting that the North Carolina General Assembly already cut services and increased taxes in 2009, but still had to rely on federal recovery funds to balance the budget.
Haile’s article details the benefits of broadening the sales tax base to include more services and closing existing corporate income tax loopholes in the state, while reducing the individual income tax rate.
State Tax Notes is a publication of Tax Analysts, a nonprofit provider of tax news and analysis, serving more than150,000 tax professionals in law and accounting firms, corporations, and government agencies daily, including tax professionals at the top 25 international law firms, 96 of the top 100 U.S. law firms, and the majority of the Fortune 100.
Click here to read Haile’s complete article through the North Carolina Law Review website.