Budget Policy

State Budget 2016

 

On May 19, the House of Representatives gave final approval to its version of the state budget (H.B. 1030) for FY 2016-17. Overall, the House budget, which passed with a 103-12 vote, would maintain or increase most state funding for nonprofits. Some highlights for nonprofits include:

Nonprofit Tax Exemption Talking Points

Why Is Nonprofit Tax Exemption Essential for North Carolina?

1. It protects taxpayers.

  • Nonprofits provide essential services that government would have to provide otherwise. Tax exemption costs much less than the cost of government having to provide the services itself.
  • Nonprofits provide public benefits in exchange for tax exemption.
  • Organizations may choose not to locate in counties or states that do not grant tax exemption. This is a potential loss for the people and economy in those locations.