Taxes and Incentives

The Research Triangle Region is regularly cited as one of the best places to do business in the nation. NC has a corporate income tax rate of 3%, the lowest in the Southeast.  A variety of incentives are available at the local and state levels for companies looking to be successful here.


NCCorpTax.png
IncomeTax.png

Local Taxes

Local property tax rates are calculated against each $100 in value.

  • Wake Forest Property Tax Rate: $0.52
  • Wake County Property Tax Rate: $0.6145
  • Combined Property Tax Rate: $1.1345

For more details, see Wake County Revenue Department.

WFNC-PropertyTax.png

State Taxes

The corporate income tax rate for North Carolina is 3.0%. The state is phasing in a single sales factor in the 2017 tax year, with a 100% sales factor imposed in the 2018 tax year.

For more details, see North Carolina Department of Revenue.

Wake Forest Incentives

The Wake Forest Business & Industry Partnership maintains a dedicated fund reserved for incentive requests. In determining decisions on such requests, the Wake Forest Board of Commissioners will consider the expected job creation, capital investment and overall economic impact on the Wake Forest community. The Town welcomes and encourages such requests. Please contact us for more information.

 

Wake County and State of North Carolina Incentives

Wake County and the State of North Carolina have additional tools and programs to support new and expanding businesses which lessen the tax burden and lower the overall costs to companies. Programs include:

  • Business Development Grants
  • In-kind Resources
  • Workforce Development and Training
  • Discretionary Grants
  • Block Grants
  • Building Reuse Programs
  • Tax Incentives
  • Infrastructure and Transportation Assistance

For detailed incentives information, please see Wake County Incentives and the State of North Carolina Incentives.