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North Carolina's tax on a dead person's financial assets would be repealed in legislation approved by House members who say the estate tax hurts family-owned farms.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.

  • Henry County Suspicious Activity

    Henry County Suspicious Activity

    Saturday, April 19 2014 10:07 PM EDT2014-04-20 02:07:16 GMT
    Press Release from the Henry County Sheriff's OfficeThe Henry County Sheriff’s Office received a call on April 18, 2014 regarding suspicious activity. Three white males driving a white pickup truck were seen in the area of Glen Court in the Ridgeway area of Henry County. The individuals walked to the back of a residence but a neighbor yelled at them and they left. Entry into the home was not gained. On April 19, 2014, three white males were seen on Andra Drive, also in Ridgeway. A male subjec...
    Press Release from the Henry County Sheriff's OfficeThe Henry County Sheriff’s Office received a call on April 18, 2014 regarding suspicious activity. Three white males driving a white pickup truck were seen in the area of Glen Court in the Ridgeway area of Henry County. The individuals walked to the back of a residence but a neighbor yelled at them and they left. Entry into the home was not gained. On April 19, 2014, three white males were seen on Andra Drive, also in Ridgeway. A male subjec...
  • 3 Blacksburg companies raise major capital

    3 Blacksburg companies raise major capital

    Thursday, April 17 2014 2:29 PM EDT2014-04-17 18:29:23 GMT
    Three Blacksburg companies have raised major capital recently.
    Three Blacksburg companies have raised major capital recently.
  • Bedford Co. Sheriff's Office investigates burglary at country club

    Bedford Co. Sheriff's Office investigates burglary at country club

    Wednesday, April 16 2014 12:16 PM EDT2014-04-16 16:16:02 GMT
    Investigators with the Bedford County Sheriff's Office are investigating a burglary of the Boonsboro Country Club.
    Investigators with the Bedford County Sheriff's Office are investigating a burglary of the Boonsboro Country Club.
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.