Out of the forty-four states that collect corporate taxes, North Carolina’s rate ranks the lowest at 2.5%, with New Jersey the highest at 11.5%.

“The difference between North Carolina’s and other states isn’t that big. We do have one of the lowest corporate tax rates in the country, but it not like ours is zero, and everyone else’s is 30,” said Hoopes.

Nevada, Ohio, Texas, and Washington have a gross receipt tax for corporations but no corporate tax rate. At the same time, Wyoming and South Dakota do not have a corporate tax rate or gross receipts tax.