Accolades

In August 2012, Inc. Magazine's fastest growing companies list included two Morrisville companies, Clinipace and BioResource International.

In June 2011, Forbes ranked the Raleigh MSA as the best place for business and careers.

In May 2011, Chief Executive.net named North Carolina the second-best state to do business.

North Carolina remains one of Site Selection magazines top states for economic development year after year.

The North Carolina Department of Commerce is the state's economic development agency. For information on North Carolina's incentives, click here.

Click here for Wake County Economic Development's incentive manual and here for the Town of Morrisville.

Business Climate

North Carolina remains on the top of lists to business year in and year out. Businesses locating in Morrisville benefit from a business-friendly state. The Raleigh MSA also ranks high on having a pro-business climate and outstanding quality of life and Morrisville is proud to offer the best of all worlds for the success of its businesses.

Corporate Taxes

Corporate Income Tax

The corporate income tax rate for North Carolina is 6.9%.

There is no local income tax.

Franchise Tax

Levied on NC corporations annually.

Rate: $1.50 per $1,000 of the largest of the following:

Capital stock, surplus and undivided profits
55% of appraised ad valorem tax value of all tangible property in North Carolina
Actual investment in tangible property in North Carolina

Sales Tax

Retail Sales & Use Tax Rate is 6.75% (4.75% - State, 2.0% - County)

Highway Use Tax on Automobiles 3% with a maximum tax of $1,500.

Raw materials, containers, labels, packaging and shipping materials and motor vehicles are exempt from the sales and use tax.

Property Tax

2011 Wake County rate - $.0534
2011 Morrisville rate - $0.3665

Taxes are calculated against each $100 in value and both County and Municipal property taxes are paid by businesses and residents. There are no special tax districts within Morrisville city limits but there may be special districts outside the town in other neighboring governmental jurisdictions. For more information, or to determine if any special district taxes or fire district taxes apply to your specific location, please visit the Wake County Revenue Department website.

Incorporation Fee

A fee of $125 is levied upon filing articles of incorporation. A fee of $250 is levied for the application of certificate of authority. Various other fees are assessed for documents filed with the Secretary of State.

Priviledge License Fee

The Town of Morrisville requires all businesses to pay a business license fee, called a priviledge license in North Carolina. Rate vary and businesses must contact the town to determine the fee or go to the Town website.

Special Provisions

Pollution abatement and recycling equipment, OSHA-mandated equipment, and equipment to reduce hazardous waste receives special treatment under the state's tax laws.

Source: North Carolina Department of Revenue and the Town of Morrisville

For more information about expanding in or relocating to Morrisville, contact Carlotta Ungaro at 919.463.7159.