The North Carolina Department of Revenue is the State’s tax collection agency. The purpose of the North Carolina Department of Revenue is to ensure that tax collection occurs, that taxes are properly filed by individuals and businesses, that tax professionals are up-to-date on their necessary information, and to ensure that fraud is not being perpetrated.
Tax collection is the most important aspect of this Department. Some of the money from taxes is put aside for individuals, while the rest of the money goes into funding particular services and programs throughout the State. Commonly a portion of tax money will be allocated to capital improvements like highway upkeep or various other allowances.
However, the North Carolina Department of Revenue also works hard to ensure that individuals have comprehensive resources to consult in order to make sure they are filing their tax forms on time and putting in all of the proper information. There are different requirements between big businesses, small businesses, and individuals who are filing their taxes. Each of these areas are broken down by the North Carolina Department of Revenue in order to keep the respective parties informed.
There are also publications that are published by the North Carolina Department of Revenue which contains up-to-date changes regarding taxes and important information about filing taxes for the coming year. Overall, this is the governing body of tax issues, and the one that enforces the tax laws. Should fraud be found, fines or legal actions could be incurred.