TO THE EDITOR:
My name is Carol Freedman and I am a proud and appreciative UNC-Chapel Hill employee.
Chris Fitzsimon of N.C. Policy Watch based in Raleigh has for years purported a viable solution regarding the plight of state workers and North Carolina's fiscal shortfalls.
The concept is called combined reporting of revenue.
According to Fitzsimon 22 states in the nation mandate the combined reporting of revenue from companies holding subsidiaries outside their respective states.
So why is this topic not being highly and hotly discussed?
The obvious answer is that it does not support local businesses and corporations.
However it is time that North Carolina came on board and showed its support to the 600000 hard-working state employees.
I have contacted Chancellor Holden Thorp Mark Schultz of The News & Observer North Carolina Public Radio-WUNC Orange County's State Senator Ellie Kinnaird and Steve Hutton of the State Employees Association North Carolina as well as the UNC-Chapel Hill Employee Forum all imploring attention to and the passage of this important legislation that will bring in according to Fitzsimon an estimated $120 million in new tax revenues.
WUNC recently focused on the issue of Combined Reporting of Revenue during a segment of National Public Radio.
Due to the recession that began in 2008 taxes collected from North Carolina businesses were down significantly from 2007.
National Public Radio advocates the combined reporting of revenue as a means of addressing huge tax loopholes that allow monies to be funneled to their out-of-state subsidiaries.
Please contact your state representative and send this message: North Carolina must become the 23rd State to require complete disclosure of business-based earned revenues!
Carol A. Freedman
Check Distribution Clerk
Disbursement Services