North Carolina’s Plan to Negotiate Back Taxes With Firms Pays Off

Last summer the North Carolina tax office put into effect a plan to collect money that was overdue. Fortunately, the effort went much better than planned and the state now has enough money to make up for a revenue shortfall. By going after corporate entities that owed back taxes and tax penalties, Revenue Secretary Kenneth Lay said that more than $427 million was collected from 236 entities.