According to an official from North Carolina’s Carteret County, former governor Mike Easley and his wife, Mary, have been named as one of the buyers of a property whose price was overstated in tax records. This worked out to a $137,000 discount on the home that was not recorded in the $550,000 purchases price.
 
A county tax supervisor stated that distorting the purchase price of one home can result in distorted appraisals for other homes in the area. The transaction factors into a larger mortgage fraud case in which more than 200 plaintiffs have stated that they were deceived into paying …read more

Shoppers in North Carolina and South Carolina will have the opportunity to enjoy a break from taxation this weekend, allowing people a much-needed chance to save money. Throughout the weekend, no tax will be collected from sales of clothing, shoes, school supplies, computers, and linens, amounting to as much as 9 percent savings.
 
For retailers, the weekend is a popular time to stock up and advertise specials that draw even more shoppers in for a chance to save money. Many stores have extended hours during tax-free weekend, while many customers plan to purchase more expensive items at that time in order …read more

As the unemployment rate continues to creep upward, many communities have become more and more desperate for job openings. Maiden, North Carolina, located in Catawba county, agreed today to raise its previous offer of incentives for Apple to open its East Coast data center near city limits, bringing much-needed jobs to a community with a 15 percent unemployment rate. 
 
Apple could save $46 million when compared to the state’s previous offer, as North Carolina rewrote its tax calculations to give Apple’s $1 billion data center such a break. Catawba County and the city of Maiden could also pay Apple about $21 …read more

Rhode Island just passed a law that forces companies to collect sales tax if they are affiliated to businesses that take a commission from links to another e-commerce website. The passing of this law has forced Amazon to drop its relationship with its marketing affiliates based in Rhode Island so that it would not have to collect sales tax in the state.
 
This is just off the heels of North Carolina’s passing of a similar law. Amazon responded similarly, dropping its North Carolina affiliates so that it would not have to collect sales taxes. Amazon may have to drop quite a …read more

Even previously strong real estate markets are now suffering from the housing slump.