NC House gives initial OK to repeal estate tax - WSLS 10 NBC in Roanoke/Lynchburg Va

NC House gives initial OK to repeal estate tax

Posted: Updated:
RALEIGH, N.C. -

North Carolina's tax on a dead person's financial assets would be repealed in legislation approved by House members who say the estate tax hurts family-owned farms.
    
The chamber gave tentative approval Tuesday to legislation ending the estate tax, which this year applies to estates that roughly exceed a little over $5 million. It's higher for couples.
    
The 83-36 vote followed debate on whether the bill would help farmers trying to keep operations in the family when they die or just extremely wealthy people. General Assembly researchers say about 1 in 500 estates are subject to the tax.
    
Opponent Rep. Paul Luebke of Durham said the state shouldn't give up the $50 million in revenues the state receives from the tax following recent social service cuts.
    
A final House vote is expected Wednesday.

  • PoliticsMore>>

  • Libertarian candidate could have big impact on Senate race

    Libertarian candidate could have big impact on Senate race

    Monday, September 1 2014 5:41 PM EDT2014-09-01 21:41:44 GMT
    Sean Haugh, a Libertarian candidate, is on the same ballot as Democratic incumbent Kay Hagan and the Republican challenger, Thom Tillis.Sean Haugh, a Libertarian candidate, is on the same ballot as Democratic incumbent Kay Hagan and the Republican challenger, Thom Tillis.
    Sean Haugh, a Libertarian candidate, is on the same ballot as Democratic incumbent Kay Hagan and the Republican challenger, Thom Tillis.
    Sean Haugh, a Libertarian candidate, is on the same ballot as Democratic incumbent Kay Hagan and the Republican challenger, Thom Tillis.
  • Union, NAACP hold Labor Day rallies across NC

    Union, NAACP hold Labor Day rallies across NC

    Monday, September 1 2014 12:00 PM EDT2014-09-01 16:00:29 GMT
    Union and civil rights leaders joined together for a series of rallies and news conferences across North Carolina on Labor Day.
    Union and civil rights leaders joined together for a series of rallies and news conferences across North Carolina on Labor Day.
  • Week of protests to wrap up at NC Capitol

    Week of protests to wrap up at NC Capitol

    Thursday, August 28 2014 7:13 PM EDT2014-08-28 23:13:38 GMT
    A coalition led by North Carolina's NAACP is wrapping up a week of demonstrations at the state capitol with a rally for voting rights.
    A coalition led by North Carolina's NAACP is wrapping up a week of demonstrations at the state capitol with a rally for voting rights.
  • Accident on I-81N causes Labor Day travel headaches

    Accident on I-81N causes Labor Day travel headaches

    Monday, September 1 2014 6:35 PM EDT2014-09-01 22:35:44 GMT
    According to VDOT's 511Virginia.org website, an accident on Interstate 81 North near mile marker 96 is causing major traffic delays.
    According to VDOT's 511Virginia.org website, an accident on Interstate 81 North near mile marker 96 is causing major traffic delays.
  • 2-year-old girl dies in Roanoke after being left in van

    2-year-old girl dies in Roanoke after being left in van

    Monday, September 1 2014 4:45 PM EDT2014-09-01 20:45:01 GMT
    Roanoke City Police are investigating the incident surrounding the death of a 2-year-old girl. According to a news release from police, officers were called to the 1500 block of Kenwood Boulevard SE at 4:27 p.m. Sunday for an unresponsive child.
    Roanoke City Police are investigating the incident surrounding the death of a 2-year-old girl. According to a news release from police, officers were called to the 1500 block of Kenwood Boulevard SE at 4:27 p.m. Sunday for an unresponsive child.
  • Labor Day blood drive happening in Roanoke

    Labor Day blood drive happening in Roanoke

    Monday, September 1 2014 12:13 PM EDT2014-09-01 16:13:31 GMT
    A Labor Day blood drive is being held today in Roanoke.It's at the Historic Lawson Building at 401 Gainsboro Road, NW.
    A Labor Day blood drive is being held today in Roanoke.It's at the Historic Lawson Building at 401 Gainsboro Road, NW.
Powered by WorldNow

WSLS 10, P.O. Box 10
Roanoke, VA 24022-0010

Telephone: 540.981.9110
Fax: 540.343.3157
Email: news@wsls.com

Can't find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.