North Carolina Repeals Its Estate Tax

As part of sweeping tax legislation, North Carolina has repealed its estate tax, which affected the state's wealthiest families. Before it was repealed, the tax applied to estates of more than $5.25 million. In 2011, just 23 estates owed North Carolina estate tax. The repeal was made retroactively effective to deaths as of January 1, 2013. (House Bill 998, signed by the governor in July 2013.)