Provided by the Fiscal Research Division
North Carolina General Assembly
300 N. Salisbury St, Ste. 619 Raleigh, NC 27603
(919) 733-4910
Barry Boardman, Ph.D., Chief Economist – Barry.Boardman@ncleg.net
A Married Couple With Two Children Filing Jointly Earning $50,000/year in North Carolina
2008 Effective Tax Rate 2017 Effective Tax Rate
$50,000/year $50,000/year
$6,000 Standard Deduction $17,500 Standard Deduction
$10,0000 Personal Exemption N/A
$200 Child Tax Credit $200 Child Tax Credit
5.7% Tax Rate 5.49% Tax Rate
Total Tax: $1,968 Total Tax: $1,587
Effective Tax Rate: 3.9% Effective Tax Rate: 3.2%
Total Tax Savings = $381
Effective Tax Rate = The % of Earnings Paid in State Income Taxes