STATE & LOCAL TAXES and services…

Property Tax Tax on Real Estate Based on it’s value (house, car) Corporate Income Tax Tax on the profits of businesses Personal Income Tax ***Highest source of revenue for state of N.C. Tax on individual earnings (taken out of your paycheck) Sales Tax Tax on the sale of most goods & services Estate Tax Tax on the estate of someone who has died Excise Tax (also known as the hidden tax) Tax on the production or sale of certain goods & services (gasoline & alcohol) Inheritance Tax Tax on property when it’s inherited

NON-tax Sources of State Revenue Fines : $ paid to the state or local government as punishment for certain violations. Example : speeding ticket littering

Licenses : grant permission for a fee to engage in certain acts. Example: hunting, marriage

Permit : grants permission to perform an action. Example: Construction permit

STATE AGENCIES & FACILITIES NC division of Social Services: provides programs for families and children in N.C. (child welfare, child support, food stamps) NC division of Public Health: offers general treatment services based on patient’s income. Also educates citizens about health issues and nutrition. Parks and Recreation Department: oversees parks, swimming pools, tennis courts, offers programs and assists with emergencies such as natural disasters.