This result from the June Civitas Poll is good news for those who favor less government and continued job growth. More North Carolinians think cuts to the corporate income tax is a better prescription for job growth than more government spending. The results are good for free-market advocates and not a real impressive look for Kenynesian economic principles in the Old North State.
North Carolina’s corporate income tax rate is 3 percent now and slated to drop to 2.5 percent next year. Forty-four states have a corporate income tax rate and North Carolina’s is the lowest. Iowa’s is the highest with a ceiling of 12 percent. The vast majority of state revenue does not come from corporate income taxes. The average contribution to the general revenue fund for states levying a corporate income tax is only 2.6 percent according to the Tax Foundation.
The full results of the poll can be found here.
The crosstabs for the poll can be found here.