NC Senate Passes $240M In Tax Breaks

North Carolina legislators have approved legislation that includes a long list of extended tax breaks and business-friendly changes estimated to cost about $240 million in the next five years.

The Senate approved the bill on a 30-16 vote Wednesday. The bill now heads to the House.

The bill was changed to preserve a $1 million cap on the salaries of highly paid actors and directors that can be counted toward a total tax break raised from $7.5 million to $20 million.

Producers could write off their in-state spending from their state taxes or collect a multi-million-dollar refund check from taxpayers if they manage to avoid owing taxes.

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  • by Barlow Location: Winterville on Jul 8, 2010 at 04:29 AM
    Thats it! Keep giving tax breaks to the wealthy while stopping unemployment benefits for those who need it, closing our schools, shutting down needed services, etc. Isn't the gap between the haves and have nots big enough already?
  • by Broke on Jul 8, 2010 at 04:21 AM
    I wish the legislative process cared more about the little people instead of the ones that don't give a fig about NC. NC is an opportune place to make loads of money and still avoid paying taxes for the rich.
  • by Anti-Terrorist Location: Greenville on Jul 7, 2010 at 10:44 PM
    Smoke and Mirrors
  • by P on Jul 7, 2010 at 05:53 PM
    Looks like the actors are already in the NC Assembly, and to the NC Taxpayer they are saying the heck with us real people we'll pay for the acting!

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