Thursday, April 27, 2017
Text Size

Taxes

North Carolina Corporate Income Tax Rate: 6.90%-2013, 6%-2014, 5%-2015

North Carolina’s corporate income tax is based on federal taxable income. For companies doing business in more than one state, the state has adopted a multi-state apportionment mechanism uses three factors: payroll, property, and sales. The state double weights the sales factor in income calculation.

There is no local income tax in North Carolina.

Randolph County Tax Rate: $0.6550 (per $100 of assessed property)

Randolph County has the third lowest property tax rate in the 12 county Piedmont Triad Region, and the 42nd lowest out of 100 counties.

City Taxes

Municipality

City Rate

Archdale

$0.290

Asheboro

$0.6650

Franklinville

$0.420

Liberty

$0.5125

Ramseur

$0.670

Randleman

$0.580

Seagrove

$0.400

Staley

$0.125

Trinity

$0.100

  • Tax Credits are available for job creation, research & development and tangible business property.
  • Companies will receive tax credits for investment in machinery and equipment and for job creation.
  •  Sales Tax: 7.00%
  • There is no state inventory tax.