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Quick Reference Guide Revenue/Taxes

Whether you’re just starting a new business, or you’ve been in business for a while, this section will help you find the tax information you need. North Carolina Department of Revenue

NOTICE:

The information included on this website is to be used only as a guide it is not intended to cover all provisions of the law or every taxpayer’s specific circumstances.

Property Tax Rate

Town of Mooresville

Tax rate is $0.58 per $100.00 of valuation (To calculate your Town tax bill, divide your valuation by 100 then multiply by $0.58)

  • Residents also have an Iredell County tax bill
  • Some residents will have a Mooresville Graded School District tax bill
  • A penny of the tax rate is approximately $480,250 in revenue to the Town
  • Downtown Mooresville $0.16 per $100.00 of valuation

Iredell County

Tax rate is $0.485 per $100.00 of valuation.

North Carolina

NC does not impose a state property tax

Sales & Use Tax

NC Department and Revenue Sale & Use Tax

  • Statewide local rate of 4.75%
  • Local sales tax rate on transactions of 2.0%
  • Tangible Personal Property total 6.75%

(Tax rate is not applicable to raw material, containers, labels, packaging and shipping materials)

Income Tax (Personal tax on wages)

  • Varies dependent on income levels and filing status corporate income tax: 6.9%

North Carolina Income Tax Table

Franchise Tax

Franchise tax bases is assigned by three categories as follows:

  • Capital stock, surplus and undivided profits
  • 55% of the appraised value of the property subject to local taxation
  • Book value of real and tangible personal property

Corporate Income Tax

Corporate Income Tax North Carolina has a flat rate of 6.9%

Inventory Tax

Inventories owned by North Carolina manufacturers, retail and wholesale merchants are not subject to an inventory tax. A credit against the income or franchise tax is available for manufacturing and processing warehousing and distribution, and data-processing.

Electricity

Sales of electricity are subject to a 3% State rate of sales tax, there are exceptions to then sales tax depending on the business

Natural Gas

An excise tax is imposed on piped natural gas received for consumption in the State of NC. The tax is imposed to sales; use tax and percentage gross receipts tax on piped natural gas. The rate is set on monthly therm volumes of piped natural gas received by the end-users of the gas. Natural gas exemptions available for specific industries please check listing

Month Volume of Therms Received Rate Per Therm
First 200 $.047
201 to 15,000 $.035
15,001 to 60,000 .024
60,001 to 500,000 $.015
Over 500,000 $.003
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