Nathan Goldman, associate professor of accounting, points out that income tax cuts for businesses do not guarantee that businesses will relocate to North Carolina, and non-tax-related factors also play a role.
“If you go and look at the total amount of corporate income tax collections as a percentage of our total budget … it’s always been fairly low. That’s something to point out — that giving these additional tax breaks doesn’t necessarily move the needle when it comes down to why corporations would come here,” said Goldman. “Perhaps it makes more sense to become more competitive on some of these non-tax-related reasons, such as having higher-quality education and having stronger infrastructure for our state.”
Read more on CBS 17.
This post was originally published in Poole Thought Leadership.
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