NC House expected to complete tax overhaul OK

POSTED: 7:37 AM Jun 10 2013   UPDATED: 7:41 AM Jun 10 2013
taxes
RALEIGH, WAKE COUNTY -

A tax code overhaul promoted by House Republicans will soon be in the hands of Senate Republicans, who want more dramatic changes to North Carolina's tax system.
    
The House plans a final vote Monday evening on its bill to lower individual and corporate income taxes and add to the list of transactions subject to the sales tax.
    
House GOP leaders are promoting the bill as an historic effort at tax reform after decades of failures in Raleigh that would in time result in lower tax bills for most everyone. But Democrats and their allies say most tax filers will pay more at the expense of the very wealthy.
    
The bill received tentative House approval last Friday.
    
The Senate wants to greatly expand the scope of the sales tax.