Taxes

North Carolina Corporate Income Tax Rate: 6.90%

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: $0.586 (per $100 of assessed property)

Randolph County has the third lowest property tax rate in the 12 county Piedmont Triad Region.

• 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: 8.00%
• There is no state inventory tax.