North Carolina’s flat tax rate will decrease in 2024, the state revenue department said Dec. 8.
The tax rate decreases to 4.5%, instead of 4.75%, the department said on the first page of North Carolina’s 2024 withholding methods. The rate used for withholding, including supplemental payments, is 0.1 percentage points higher than the actual income tax rate, meaning withholding uses a rate of 4.6% in 2024, down from 4.85%.
The state’s withholding formula was otherwise unchanged from 2023. The additional withholding amounts that nonresident aliens must enter on Form NC-4 NRA, Nonresident Alien Employee’s Withholding Allowance Certificate, decreased to ...
Learn more about Bloomberg Tax or Log In to keep reading:
See Breaking News in Context
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools and resources.