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Flat Tax NC: McCrory Signs Tax Overhaul Ending Progressive Income Taxation

Via News14.com, emphasis added:

Gov. Pat McCrory signed an overhaul of the state’s tax system into law.

Under the measure, income taxes will be reduced, the corporate tax rate will be cut, and some new services will be taxed as well.

It expands the sales tax, reduces personal income taxes to a flat rate of 5.75 percent and cuts the corporate tax rate to 5 percent by 2015.

The left falls into histrionics about “tax cuts for the rich” in 3, 2, 1 ….