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Taxes

Property Tax Rates (July 2009 - June 2010)

Pasquotank County: $.585 per $100 valuation
Elizabeth City: $.45 per $100 valuation
City Municipal District: $.06 per $100 valuation

Saless Tax Rates

Retail sales of tangible personal property not subject to a reduced rate of tax are subject to the 7.75% general State rate of sales or use tax. Groceries are subject to a 2% tax, excluding alcoholic beverages, dietary food, prepared food, soft drinks and candy, which are taxed at the state rate of 7.75%

Corporate Tax Rates

An income tax is levied on the net taxable income of all corporations chartered in North Carolina or doing business in North Carolina, unless they are specifically exempt from tax under G.S. 105-130.11. The state corporate tax rate is 6.9%.

Franchise Tax Rates

Corporations and Limited Liability Companies pay a franchise tax of $1.50 per $1,000 of capital stock, surplus, and undivided profits or other alternative tax base.

Personal Income Tax Rates

Depending upon your filing status and your taxable income, the North Carolina tax rate ranges from 6% to 8.25%.

For additional information on taxes, please see
North Carolina Department of Revenue
City of Elizabeth City
Pasquotank County