 Utilities - Augustalee offers utility services at rates that are competitive with any region of the country. In addition the development has electric service from three substations, a very unusual and beneficial arrangement, ensuring you of continuous power supply at all times. Utility services are provided by:
• Water/Sewer: Charlotte-Mecklenburg Utilities
• Natural Gas: PSNC
• Electricity: EnergyUnited
Tax rates for the Augustalee area are:
• Corporate Income Tax — flat rate of 6.9% of net income
• Sales & Use Tax — 4.5% statewide with a local rate of 2.75% on transactions (combined 7.25% tax not applicable to raw materials, containers, labels, packaging and shipping materials)
• Franchise Tax — $1.50 per $1,000
• Inventory Tax — none
• Property Tax — no state property tax; county rates range 4.2-11%; city rates range 2.4-8%
• Electricity — 2.83% on electricity to farms, manufacturers, commercial laundries and dry cleaners
• Natural Gas — 2.83%
• Telephone Service — 3% local; 6% intrastate; $50,000 cap applies for call center operations
• Unemployment Insurance Rate — 0.4% average tax rate; 1.2% new employers rate; 5.7% maximum rate (deficit employers); taxable base $15,900
• North Carolina Personal Income Tax Rates —
o Federal Deductibility: No
o Marginal Rates and Taxes:
o 6% > $0
o 7% > $12,750
o 7.75% > $60,000
o 8.25% > $120,000
o Standard Deduction: $3,750 single; $6,100 joint
• Exemptions: $1,050 single; $1,050 dependents
Source: Lake Norman Regional Economic Development Corporation
Disclaimer: Actual rates change from time to time. Please consult your accountant for the most up to date information. |
