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Home » Issues » Tax And Budget Policy » Closing Corporate Tax Loopholes

Closing Corporate Tax Loopholes

What's New

Multi-state businesses have an unfair competitive advantage over local businesses. They can shift income out of North Carolina to states that have no taxes. So local businesses pay taxes, and multi-state businesses do not. House Bill 462 and Senate Bill 244 close the tax loophole so that multi-state companies cannot hide their revenues in other states to give themselves an unfair competitive advantage over local businesses.

How You Can Help

Close Corporate Tax Loopholes

Tell your Representative and Senator to support House Bill 462 and Senate Bill 244 so that multi-state companies cannot hide their revenues in other states, and give themselves an unfair competitive advantage over local businesses.

Overview

North Carolina needs a fair playing field for local businesses to promote economic growth. Tax avoidance practices by large, multi-state corporations put small, local businesses at a competitive disadvantage. Because companies in North Carolina should thrive based on their efficiency and capacity for innovation, not the ability of their lawyers to find tax loopholes, NCPIRG supports “combined reporting,” which prevents large corporations from hiding revenue in states without corporate income taxes.