New Tax Reforms Make North Carolina More Appealing to Retirees

As a result of a major tax reform deal, here are three newtax reasons to retire in North Carolina:

1. Income tax rates have been lowered to a flatrate of 5.8% in 2014 and 5.75% in 2015 with further rate reductions possible in2016 and 2017.
2. The estate tax has been abolished retroactive toJanuary 1, 2013.
3. Social Security income will continue to beexempt from state taxation.

See AshleaEbeling, Three New Tax Reasons to Retireto North Carolina, Forbes, July 16, 2013.