In North Carolina, Bill Passes to Eliminate State Estate Tax

On Wednesday, the House Finance Committee in North Carolina voted 24-10 to approve a bill that would eliminate the state’s estate tax.  Republicans say that the death tax unfairly punishes farm and small-business owners who have passed down wealth generation after generation.  Democrats argue that the repeal would effect very few people–only 0.2 percent of North Carolinians are required to pay the tax. 

See Derek Medlin, Estate Tax Bill Clears House Committee, NCCapitol, Feb. 20, 2013.