2014 NC State Income Tax Negative Impact

2014 NC State Income Tax Negative Impact

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Our 2013 NC State Income Tax was $251.00.  Our 2014 NC State Income Tax is $1,415.00.  

That is a 564% increase.  

$20.72 per month in 2013 for NC SIT and $117.92 per month in 2014 NC SIT.  

My (Stroke Victim) And my wife’s (Asthmatic) medical expenses for 2014 averaged $952.92. Medical expenses were not allowed as a deduction on the 2014 NC SIT.  

The NC Legislature also eliminated the Personal Exemption of $2,500 per person. Our income from Pensions, Social Security, and small investments increased 1.034% from 2013 to 2014. We have been significantly impacted by the 2014 SIT changes and definitely were not considered by Governor McCrory at the signing of the Bill when he stated “Everyone will benefit some from this bill.”