North Carolina sales tax rate
- 4.75%. The North Carolina state sales tax rate is 4.75%, and the average NC sales tax after local surtaxes is 6.9%. Counties and cities in North Carolina are allowed to charge an additional local sales tax on top of the North Carolina state sales tax.
What is the sales tax in NC 2020?
North Carolina has state sales tax of 4.75%, and allows local governments to collect a local option sales tax of up to 2.75%. There are a total of 324 local tax jurisdictions across the state, collecting an average local tax of 2.188%.
What is NC retail sales tax?
Retail sales of tangible personal property are subject to the 4.75% State sales or use tax. Items subject to the general rate are also subject to the 2.25% local rate of tax that is levied by all counties in North Carolina. Sales taxes are not charged on services or labor.
What is the tax rate in North Carolina 2021?
As of January 1, 2021, North Carolina’s individual income tax rate of 5.25 percent was lower than the top rates in all but 13 of the states that levy an individual income tax on wage income.
What is NC State income tax rate?
North Carolina income is taxed at a constant rate of 5.25%. Description:To calculate your taxable income, multiply your NC taxable income by the tax rate of 5.25%.
How do I calculate sales tax?
Multiply the cost of an item or service by the sales tax in order to find out the total cost. The equation looks like this: Item or service cost x sales tax (in decimal form) = total sales tax. Add the total sales tax to the Item or service cost to get your total cost.
What is the sales tax rate in Charlotte NC?
The 7.25% sales tax rate in Charlotte consists of 4.75% North Carolina state sales tax, 2% Mecklenburg County sales tax and 0.5% Special tax. There is no applicable city tax. You can print a 7.25% sales tax table here.
How do I charge sales tax in NC?
You have three options for filing and paying your North Carolina sales tax:
- File online – File online at the North Carolina Department of Revenue.
- File by mail – You can use form E-500 and file and pay through the mail, but North Carolina encourages all sellers to pay online.
Is it cheaper to live in SC or NC?
While North Carolina’s overall cost of living is still lower compared to the national average of 100%, it’s still slightly above South Carolina’s cost of living. Furthermore, people living in NC pay below the country’s average for housing, groceries, utilities, and transportation.
Is North Carolina a tax friendly state for retirees?
In North Carolina, your Social Security benefits are not taxable; however, the state taxes most other retirement income at the flat rate of 5.25%. Kiplinger ranks South Carolina as one of the most-friendly states for taxes on retirees. The state also offers other generous exemptions on other types of retirement income.
Does North Carolina tax out of state income?
If you live in North Carolina but work in another state, you still might have to pay North Carolina income tax on that out -of-state income. North Carolina has minimum income thresholds for filing: as of 2012, single filers had to make $5,500, and married filers had to earn $11,000 in gross income.