Friday, April 20, 2018
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Taxes

North Carolina Corporate Income Tax Rate: 3.0%

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: $0.6525 (per $100 of assessed property)

Randolph County has the fifth lowest property tax rate in the 12 county Piedmont Triad Region, and the 41st lowest out of 100 counties.

City Taxes

Municipality

City Rate

Archdale

$0.2900

Asheboro

$0.6650

Franklinville

$0.4200

Liberty

$0.5400

Ramseur

$0.670

Randleman

$0.6300

Seagrove

$0.4000

Staley

$0.125

Trinity

$0.1000

  • 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.