Taxes

Pitt County, North Carolina

Taxes


We believe low taxes are better for businesses and the people they employ.
North Carolina has a proven track record of reducing and streamlining business taxes. At 2.5 percent, our state has the lowest corporate income tax rate in the country. We’re committed to helping businesses grow — and our tax rates won’t cut into your bottom line.

 

Tax Quick Facts

  • Income tax: 5.25%, flat rate
  • Corporate Tax Rate: 2.5%
  • Sales tax: 7% (Pitt County)
  • Property tax in Pitt County: .72 per $100 valuation


General State and Local Taxes


 

Sales and Use Tax

The State of North Carolina levies a general retail sales and use tax of 4.75%. Pitt County levies a sales and use tax of 2.25%, for a total sales tax of 7% in Pitt County.

 

North Carolina offers a number of sales and use tax exemptions for business

Tax Exemptions for Manufacturing:

Manufacturing machinery and equipment used for manufacturing
Fuel, piped natural gas, and electricity used for manufacturing
Raw materials used for manufacturing

Large Fulfillment Facility:

Large fulfillment facility equipment (Invests more than $100 million and creates 400 jobs)

Data Center:

Electricity and support equipment at a qualifying data center and computer software at any data center

Other Exemptions:

Pollution Control and abatement equipment

Equipment for Research and Development for Physical, Engineering, and Life Sciences companies (NAICS 54171) and Software Publishers (NAICS 5112)

 

Property Taxes

PITT COUNTY BUSINESS PERSONAL PROPERTY

PITT COUNTY REAL PROPERTY

PITT COUNTY USE VALUE PROGRAM

PITT COUNTY ONLINE PARCEL INFORMATION SYSTEM

 

 

Individual Taxes


 

Personal Income Tax

North Carolina taxable income is adjusted gross income as calculated for federal income tax purposes with certain modifications. 

This rate was reduced to a flat rate of 5.25% in 2019.

 

PITT COUNTY INDIVIDUAL PERSONAL PROPERTY

PITT COUNTY REAL PROPERTY

TAX RELIEF PROGRAMS

PITT COUNTY ONLINE PARCEL INFORMATION SYSTEM

 

 

 

Specific State and Local Taxes for Business


 

Corporate Income and Franchise Tax

Franchise Tax 

Income Taxes for S Corporations

 

Withholding Tax

 

Partnership Tax

Limited Liability Companies 

Unemployment Insurance

 

Other Income Tax Credits

1) investing in renewable energy property;

2) construction of low-income housing;

3) rehabilitating historic structures and historic mills;

4) construction of cogenerating power plants;

5) qualified film or television production expenses;

6) qualified expenses of research performed in the state;

7) construction or leasing of a railroad intermodal facility in the State, and

8) manufacturing cigarettes for exportation.

 

 Privilege Taxes on Certain Machinery and Equipment

 

Starting a business in North Carolina

Incorporation Fees

 

 

PROPERTY TAXES

PITT COUNTY BUSINESS PERSONAL PROPERTY

PITT COUNTY REAL PROPERTY

Property Tax Exemptions and Exclusions

 

-Manufacturing inventories (raw materials, goods in process, finished goods, materials or supplies consumed in processing)

-Contractors’ inventories (goods held by contractors to be furnished in the course of building, installing, repairing, or improving real property), livestock, poultry, and feed used in production of livestock and poultry, and inventories of retail and wholesale merchants (tangible personal property held for sale and not manufactured, processed, or produced by the merchant).

-Computer software.  This exemption does not apply to embedded software and capitalized software purchased or licensed from an unrelated entity.

-Property which has been imported from a foreign country and is stored at the seaport terminal while awaiting further shipment is exempt for the first year of storage.

-“Bill and hold” goods manufactured in North Carolina and held by the manufacturer for shipment to a nonresident customer are exempt.

-Motor vehicle chassis belonging to nonresidents which enter the State temporarily for the purpose of having a body mounted thereon are exempt from taxation.

-Nuclear materials held for the purpose of, or in the process of, manufacture or processing, or held by the manufacturer for delivery are exempt from taxation.

-Improvements on brownfields properties are partially excluded from property taxation. The exclusion is for a five-year period beginning when the improvements are made and declines during the period from 90% of the appraised value for the first year to 10% for the fifth year. The improvements are fully taxable in the sixth and subsequent years after the improvements are made. The property must be subject to a brownfields agreement entered into by the owner with the Department of Environment and Natural Resources pursuant to G.S. 130A-310.32.

-Property used to reduce air or water pollution receives special treatment under the tax laws of North Carolina if the Environmental Management Commission or local air pollution control program certifies that the property complies with the requirements of the Commission. Such real and tangible personal property is exempt from taxation under the property tax laws. Furthermore, the cost may be excluded from the three alternate bases in computing the franchise tax and may be amortized over 60 months for corporation income tax purposes.

-Personal property used exclusively for the prevention or reduction of dust in textile plants is also exempt from local property taxes.

-Equipment or facilities installed for the purpose of recycling solid waste or resource recovery from solid waste receives the same treatment under the tax laws as that given to pollution abatement equipment described above.

 

PITT COUNTY USE VALUE PROGRAM

PITT COUNTY ONLINE PARCEL INFORMATION SYSTEM