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Five Things To Know About NC Tax Law Changes In New Year

Revisions to the state's tax code mean filers in 2014 could see changes to their exemptions, deductions and overall tax payments. Here are five key facts about the changes:

  1. When you go to the movies, sporting event or concert, starting January 1, sales tax will apply to your tickets. 
  2. You can no longer deduct contributions to a College Savings Program. If you have a 529 plan to set aside for a child’s college tuition, you will no longer receive a tax deduction for your contribution.  
  3. You can no longer claim a child care deduction.
  4. If you are retired, you will no longer be able to write off the first $2,000 of your pension.
  5. All taxpayers are required to fill out a withholding form before the end of the year.

Reporter John Frank covers the changes to the tax code for The News and Obsever. Read more of his reporting.

The winners and losers of the tax law are yet to be determined. -- John Frank

Laura Lee was the managing editor of The State of Things until mid February 2017. Born and raised in Monroe, North Carolina, Laura returned to the Old North state in 2013 after several years in Washington, DC. She received her B.A. in political science and international studies from UNC-Chapel Hill in 2002 and her J.D. from UNC-Chapel Hill School of Law in 2007.
Longtime NPR correspondent Frank Stasio was named permanent host of The State of Things in June 2006. A native of Buffalo, Frank has been in radio since the age of 19. He began his public radio career at WOI in Ames, Iowa, where he was a magazine show anchor and the station's News Director.
Carol Jackson has been with WUNC since 2006. As Digital News Editor, she writes stories for wunc.org, and helps reporters and hosts make digital versions of their radio stories. She is also responsible for sharing stories on social media. Previously, Carol spent eight years with WUNC's nationally syndicated show The Story with Dick Gordon, serving as Managing Editor and Interim Senior Producer.