The Town of Fuquay-Varina has one of the lowest tax rates in the county at 38.5 cents per thousand. The current Wake County rate is 53.4 cents per thousand. Taxes are calculated against each $100 in value. If you live in a city or town, you will pay both County and Municipal property taxes, plus any additional special taxes that may apply.
Sales and Use Tax
7.75% (5.5% State of NC, 2.25% Wake County)
For the 2010 tax year, income tax rates range from 6% to 7.75% based on your taxable income and filing status.
If you own or operate a business in the Town of Fuquay-Varina you need a business license. More information, including specific fees, can be found on the Finance page of the Town of Fuquay-Varina website.
Corporate Income Tax
The North Carolina income tax rate is 6.9%. There is no local income tax.
Levied on NC Corporations annually at a rate of $1.50 per $1,000 of the largest of the following:
- Capital stock, surplus and undivided profits apportionable to the State
- 55% of appraised value of property subject to taxation
- Book value of real property in NC less debt to acquire
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.