North carolina sales tax
North Carolina is a state located in southeastern part of United States near Atlantic sea. It is one of the few colonies from England that gained independence from the British Empire. Today it is rapidly growing with a population with diverse back grounds and economy. Since July 2006 it has a population estimate of about 8856505 people that are residing in North Carolina. Economy wise also North Carolina is diverse in its economy and its per capita income was 31029 dollars. Cities like charlotte, Raleigh and Cary have experienced rapid population and economic growth over the last thirty years. A state tax level of North Carolina for per individual is about 1720 dollars for a population of 8556505 and estimated revenue generated is about 14691000000 dollars. North Carolina ranks twenty first in the United States for revenue on tax.
Sales tax structure
A sales tax is a tax which is levied on consumption mostly and a certain percentage of the tax is added to the consumer's bill as a part of the sales tax. While there is no national sales tax in United State and North Carolina State has its own tax regime. North Carolina State has a state levied sales tax of about 4.25 percent which is with effect from December 2006. Also along with most countries an additional 2.5 percent is levied for the total of about 6.75 percent. But it is about to decrease to 4.25 percent with effect from December 2007. Before July 2006, the state sales tax was 7 percent. The country of Mecklenburg has a bit higher rate of 3 percent of sales tax that is levied on the goods and services.
Along with the taxes on general items there is a 29.9 cents tax per gallon of gas and thirty cents tax for per pack of cigarette. The North Carolina state also charges an extra sales tax of seventy nine cents on wine and forty eight cents on beer. Most of the non-purchased foods items in North Carolina have a reduced tax rate of two percents. Other products that include candy, prepared foods and soft drinks are taxed at a combined rate of 6.75 % of the sales tax along with some counties applying additional sales tax of one percent on prepared foods. There is also sales tax holidays that is kept in order to benefit back to school shoppers that exempts few items of tangible personal property. It is usually sold in the month of august on the first of Friday and following Sunday. The sales tax that is levied for travelers in North Carolina in the state is about five percent and country sales tax is about two and a half percent. For most of the food items North Carolina is about four percent.
Filing sales tax
For filing of the sales tax an individual have to get a sale and use tax account number. For that a registration application is to be submitted to the revenue department. Printed forms are forwarded to the registered sales tax users and for that no fees is charged for the users.
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