• Taxes

    Whether you’re just starting a new business, or you’ve been in business for a while, this section will help you find the tax information you need. North Carolina Department of Revenue

    NOTICE:

    The information included on this website is to be used only as a guide it is not intended to cover all provisions of the law or every taxpayer’s specific circumstances.

    Property Tax Rate

    Town of Mooresville

    Tax rate is $0.58 per $100.00 of valuation (To calculate your Town tax bill, divide your valuation by 100 then multiply by $0.58)

    • Residents also have an Iredell County tax bill
    • Some residents will have a Mooresville Graded School District tax bill
    • A penny of the tax rate is approximately $480,250 in revenue to the Town
    • Downtown Mooresville $0.16 per $100.00 of valuation

    Iredell County

    Tax rate is $0.485 per $100.00 of valuation.

    North Carolina

    NC does not impose a state property tax

    Sales & Use Tax

    NC Department and Revenue Sale & Use Tax

    • Statewide local rate of 4.75%
    • Local sales tax rate on transactions of 2.0%
    • Tangible Personal Property total 6.75%

    (Tax rate is not applicable to raw material, containers, labels, packaging and shipping materials)

    Income Tax (Personal tax on wages)

    • Varies dependent on income levels and filing status corporate income tax: 6.9%

    North Carolina Income Tax Table

    Franchise Tax

    Franchise tax bases is assigned by three categories as follows:

    • Capital stock, surplus and undivided profits
    • 55% of the appraised value of the property subject to local taxation
    • Book value of real and tangible personal property

    Corporate Income Tax

    Corporate Income Tax North Carolina has a flat rate of 6.9%

    Inventory Tax

    Inventories owned by North Carolina manufacturers, retail and wholesale merchants are not subject to an inventory tax. A credit against the income or franchise tax is available for manufacturing and processing warehousing and distribution, and data-processing.

    Electricity

    Sales of electricity are subject to a 3% State rate of sales tax, there are exceptions to then sales tax depending on the business

    Natural Gas

    An excise tax is imposed on piped natural gas received for consumption in the State of NC. The tax is imposed to sales; use tax and percentage gross receipts tax on piped natural gas. The rate is set on monthly therm volumes of piped natural gas received by the end-users of the gas. Natural gas exemptions available for specific industries please check listing

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