Senate tax plan will damage NC's non-profit community
The Senate fully unveiled their tax reform plan within the proposed budget released last week. In it there are a number of changes including reducing the cap on the sales tax exemption for non-profits from $45 million to $1 million. This increase could increase the cost of operating for non-profits, and even force them to cut back or eliminate vital services communities need and benefit from.
From the News & Observer
It is also important to remember that the nonprofit sector provides essential services such as health care, education, disaster relief, religious services, senior care, hunger relief and housing. By taking resources away from the nonprofit sector and undermining its ability to serve communities, legislators would be threatening the long-term prosperity of the state. Lawmakers have often stated that continuing to grow our economy relies on legislation that will encourage businesses to relocate to North Carolina. Nonprofits are a vital part of the fabric of our way of life. If we impose costly taxes on these organizations, I am concerned we will diminish our quality of life and discourage businesses from moving here or staying here.