• Opinions vary on NC legislature's tax reform

    By: Scott Wickersham

    Updated:

    CHARLOTTE, N.C. - At the Kings Street Farmers Market in Myers Park, the opinions are as varied as the vegetables and fruit, from those who think Republicans have run amok to those who think they're making some sense.

    The tax reform signed into law by Gov. Pat McCrory on Tuesday afternoon reduces the corporate tax rate from 6.9 to 6 percent and allows it to drop to 3 percent by 2017 if the state meets revenue targets.

    The individual tax rate drops from a maximum 7.75 percent to a flat 5.75 percent for everyone.

    It also expands sales tax to include some service contracts.

    One woman said it benefits the rich.

    "It's one thing to attract business here as long as you don't sell the house to do it," she said.

    Cattle farmer Julias Price sees it differently. He sells grass fed beef and said a reduced corporate tax rate will attract more customers.

    "Large corporates hire, put people to work. They come here and buy my product and support this farmers market," Price said.

    With four boys to raise, Macon Collins said every extra dollar helps.

    "I think a tax break would be great for families with lots of children," Collins said.

    She believes the cuts will give her more money to spend here, which is the argument Republicans make for the cuts bringing in more revenue in the long run.


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