NC tax overhaul could receive small adjustments

RALEIGH, N.C. (AP) – North Carolina’s latest tax changes became law less than four months ago and legislators already want small adjustments.

The General Assembly’s tax policy oversight committee reviewed Tuesday a proposal to amend the tax overhaul law passed last summer that reduced income tax rates, repealed the estate tax and tweaked when to levy the sales tax.

The proposal would make clear how the sales tax is collected on prepaid meal plans students get at colleges and universities and clarifies how service contracts are subject to the sales tax. The proposal also changes when the sales tax on admissions to live events is collected and narrows the exemption to K-12 schools.

The committee is expected to vote next month on recommending the changes to the full Legislature, which resumes work in May.

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