Taxes and Fees
Property Tax Rates (July 2015 – June 2016)
Pasquotank County: $.76 per $100 valuation
Elizabeth City: $.615 per $100 valuation
City Municipal District: $.085 per $100 valuation
Fees (July 2015 – June 2016)
Solid Waste Fee: $144
City Motor Vehicle: $5
City Stormwater, Residential: $35
City Stormwater, Commercial: $.01/SF Impervious Surface; $36 minimum
Sales Tax Rates
Retail sales of tangible personal property not subject to a reduced rate of tax are subject to the 6.75% general State rate of sales or use tax. Groceries are subject to a 2% tax, excluding alcoholic beverages, dietary food, prepared food, soft drinks and candy, which are taxed at the state rate of 6.75%
Corporate Tax Rates
An income tax is levied on the net taxable income of all corporations chartered in North Carolina or doing business in North Carolina, unless they are specifically exempt from tax under G.S. 105-130.11. The state corporate tax rate is 5%.
Franchise Tax Rates
Corporations and Limited Liability Companies pay a franchise tax of $1.50 per $1,000 of capital stock, surplus, and undivided profits or other alternative tax base.
Personal Income Tax Rates
The North Carolina personal income tax rate is 5.75%.