This site is part of the Global Exhibitions Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 3099067.


North Carolina Seeks to Tax Self-Storage


Senators in North Carolina last week revealed a list of new sources for sales-tax revenue that includes self-storage. The new tax is being proposed to fill a budget shortfall of approximately $6 billion, and senators claim the state’s taxes will be fairer as a result. Other services being considered for taxation are home repair, amusement parks, spa treatments, dog grooming and tattoos.
The plan, still under construction, prescribes an overhaul of how the state’s services are financed. The sales-tax rate in most areas would drop from 6.75 percent to 6 percent, but would immediately be tacked on to many previously untaxed services. In addition to the aforementioned services, sales tax would be charged on product warranties, online software and Web databases. The proposal would raise $1.2 billion over the next two years.
Services to be left untouched include medical, legal, accounting and tax preparation, because those are services commonly purchased by businesses. Haircuts will remain untaxed, as the bulk of those transactions are paid in cash.
The plan would also affect income-tax rates. 
Source: Asheville Citizen-Times, Senate targets taxation of services for more revenue

Related Articles:

Real Estate Roundup: Sales Tax—A Double Demon?

Refunds on Self-Storage Sales Tax Available in South Dakota

Michigan House Votes to Replace Service Sales Tax

comments powered by Disqus