RALEIGH, NC (AP) -- Legislators at the General Assembly are interested in streamlining how local governments can tax North Carolina businesses in a move that could take away millions of dollars from the state's largest cities.
A committee that focuses on tax issues unveiled Wednesday a new version of a bill that would repeal the business privilege license tax municipalities can charge and replace it with a new tax that would be capped at $100 per business location.
Legislators say the broad authority towns and cities currently have creates disjointed tax rates for businesses depending on where they're located. Sen. Bill Rabon of Southport says some governments have abused their authority.
The lobbying group for North Carolina's municipalities is concerned about the lost revenue. Estimates range from $11 million to $25 million.
(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)