New study reveals how NC taxes small businesses vs. the rest of the U.S.

NORTH CAROLINA, U.S. – A new study from BusinessFinancing.co.uk breaks down how much corporate tax a small business pays in every U.S. state, and the differences are bigger than you might expect.

The research models a hypothetical tech company earning $100,000 in annual profit and applies the latest federal and state tax rates to calculate the total tax burden. While the federal corporate tax rate is fixed at 21%, state taxes vary dramatically, affecting what small business owners actually owe from state to state.

The study found that small businesses in North Carolina are taxed an additional 2.50% on top of the mandatory 21% federal tax, bringing the total to 23.5%. As one of the lowest-taxed states for small businesses, the model company would be taxed $23,500 on their $100,000 profit.

You can find the full study here: https://businessfinancing.co.uk/mapping-small-business-tax-rates-around-the-world/