New state laws provide tax references, other changes in 2019 :: WRAL.com
Raleigh, N.C. – 2019 will bring legal changes North Carolinians will likely notice in the wallet, in the polls and on the roads.
Tax
The final phase of the 2013 audit goes into effect in the tax year 2019. The state's personal income tax rate will fall from 5.499 per cent to 5.25 per cent, while corporate tax sees a larger decline, from 3 per cent to 2.5 percent, the lowest price in the country among states imposing a corporate tax.
In addition, the state's standard deduction – the amount of income you can earn before you have to start paying taxes on it ̵[ads1]1; is set to increase again in 2019, from $ 17,500 to $ 20,000 for a married couple filed jointly and from $ 8,750 to $ 10,000 for a single file. [19659005] Republican legislators who authored the 2013 revision and later changes, say that the expansion of the "zero tax" bracket will help all workers, but it is specifically aimed at low income revenue. During the 2019 changes, backers say that almost 30 percent of all returns filed in North Carolina will be exempt from state income tax.
Election
The North Carolina voters will no longer have to deal with various primary dates.
Since 2012, Republican lawmakers have attempted to move the state's traditional maiphase presidency to an earlier date in the cycle, seeking a larger share of the national limelight in the run-up to the party conventions. Limitations of national parties to prevent "front-loading" of the primary cycle stop the plans to move North Carolina polls to February, just after South Carolina's primary.
In 2016, North Carolina held its primary Mars. In 2018 they returned to their traditional date in May.
However, from 2019, primary in similar years in North Carolina – president and otherwise – will take place Tuesday after the first Monday of March. [19659003] Highways
2019 will be the first year of the Build NC Bond Act program.
The program, which consisted of broad bipartisan support in 2018, allows the North Carolina Department of Transportation to borrow up to $ 300 million per year in special-purpose bonds. It is a type of debt that is secured by real assets, and therefore does not require the approval of votes under state law. However, it would require approval by the Treasurer.
DOT could borrow up to $ 3 billion over the next 10 years. The funds will be used for high-priority major road construction projects at state and regional levels. They cannot be used for customs projects or projects without motorways.
It may sound like a lot of money, but it's really just a drop in bucket compared to the state's project log. In 2012, when DOT first implemented the Strategic Transport Investment Plan, officials estimated that the state would need more than $ 140 billion to meet transport infrastructure needs by 2040.
