Cost of Doing Business

Transylvania County compares well against markets around the country. The community is part of the Asheville MSA which ranks below many major U.S. markets.

Cost of Living Index

Asheville MSA

San Francisco

Denver

Chicago

New York

Charleston

Seattle

99.2

174.7

109.3

116.2

225.8

101.1

138.2

North Carolina Taxes


Corporate Income Tax: Flat rate of 5.0% of net income allocated to the state.

Sales & Use Tax: 4.75% statewide with a local rate of 2.0% on transactions. The combined tax is not applicable to raw materials, containers, labels, packaging and shipping materials.

Franchise Tax: $1.50 per $1,000 and is applied to the greatest base determined as set forth in the law.

Inventory Tax: North Carolina does not impose a state property tax.

Exemptions: Inventories, intangible goods, pollution control equipment

Unemployment Insurance Rate: Wages subject to tax $21,400, minimum rate 0.0%, maximum rate 6.84%, new employer 1.2%

Local Taxes


Transylvania County Government maintains one of the lowest county property tax rates in North Carolina and the lowest tax rate in the Asheville MSA. Below is a breakdown of our local municipal tax rates.  

County & Municipal Tax Rates

Unit of Government

Tax Rate

Combined Tax Rate (per $100 valuation)

Transylvania County

$0.4499

0.4499 Transylvania County = $0.4499

City of Brevard

$0.4725

0.4499 Transylvania County + 0.4725 Brevard = $0.9224

Town of Rosman

$0.4100

0.4499 Transylvania County + 0.4100 Rosman = $0.8599



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NEWS & EVENTS

January 23 | Automated Tool & Machine Acquires 50,000 Square Foot Industrial Building

Rosman, NC-Automated Tool & Machine, an advanced manufacturing company located in Transylvania County announces plans to acquire, relocate and transform…(more...)

October 27 | Alliance Announces 2016 Business Expansion Competition Winners

In July, the Transylvania Economic Alliance launched the 2016 Business Expansion Competition, which encouraged local businesses in Transylvania County, the…(more...)

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