What are the tax rates in North Carolina?

The tax rates in North Carolina vary based on the type of taxes. For individual income tax, the state follows a graduated rate structure ranging from 5.25% to 7.5%. Corporate income tax is a flat rate of 2.5%. Sales and use tax is imposed at a rate of 4.75% on most tangible personal property. However, additional local sales taxes may apply depending on the location. For real property, North Carolina levies property taxes at the county level, with rates varying by county. Additionally, there are various other taxes such as motor fuels tax, estate tax, and franchise tax, each with their specific rates and regulations. It is advisable to consult the North Carolina Department of Revenue's official website or seek professional advice for accurate and up-to-date information on specific tax rates.