"The Peak of the Triangle"
Apex, North Carolina is an ideal urban community with a key location near the heart of internationally renowned Research Triangle Park. Well known for its small town character, historic downtown area, top-rated schools and quiet neighborhoods, Apex also offers an excellent business climate for expansion and relocation for a variety of business sectors.

Apex has seen the traditional North Carolina economy in the region transform from one based upon tobacco and textile products to a cutting edge economy with strong industry clusters.

With the region’s strong foundation in knowledge based industries, its economy continues to grow steadily due in large part to the strengths of the local workforce, the presence of advanced technologies, and the location of three nationally and internationally-recognized doctoral research universities including North Carolina State University (Raleigh), Duke University (Durham), and the University of North Carolina at Chapel Hill and eight other colleges and universities including rapidly ascending North Carolina Central University.  Apex benefits from its close proximity to the Research Triangle Park, the largest and most successful planned research park in the country, with its more than 140 high tech companies. World renowned healthcare is provided to citizens of the region at Duke University Hospital and UNC Hospitals as well as WakeMed Health & Hospitals, based in Raleigh, North Carolina.

Apex has successfully worked to maintain its small town charm while experiencing a successful economic growth rate. The Apex Town Council adopted a growth management plan which supports efficient planning and management for the future of Apex.

It's no surprise that Apex was named # 1 Small Town in North Carolina by North Carolina Business Magazine.  Come and experience the benefits of working and living in Apex North Carolina - "The Peak of Good Living."

Taxes and Other Business Tidbits

Property tax is a local tax in North Carolina.  Taxpayers located within a city pay both the county and city tax. Apex, North Carolina boasts the second lowest municipal property tax rate in the county, at $0.34/$100 valuation, due to positive growth. The Wake County property tax rate is $0.534/$100 valuation. (See the chart below to see how Apex compares to other local municipalities in Wake County)

Source: Wake County Revenue Department

Real property is appraised every eight years by "in house appraisers" and assessed a tax on the basis of 100% of the true market value of the property. The last revaluation project was done in 2007 for 2008. For more information you can contact the Wake County Tax office at 856-5400 or visit their website at www.co.wake.nc.us

Corporations doing business in North Carolina will also be subject to state corporate income tax, franchise tax, and sales tax on purchases.

Income Tax

The corporate income tax rate is 6.9%.

Double-Weighted Sales Factor - If a corporation does business in North Carolina and in one or more other states, North Carolina taxes a fraction of the corporation’s income based on the amount of sales, payroll and property it maintains within North Carolina.  A business that makes significant sales outside the state would be taxed at a lesser level.

Personal Income Taxes

North Carolina imposes a bracket schedule of personal income tax rates on your adjusted gross income.  The income tax brackets that you fall into will depend on your filing status and your level of income.  The applicable income tax rates range from 6% to 8.25%.

No Local Income Taxes

There are no local income taxes levied by city and county governments in

North Carolina.

Franchise Tax

Levied on NC corporations annually.

Rate: $1.50 per $1,000 of the largest of the following:

-Capital stock, surplus, and undivided profits apportionable to the State
-55% of appraised value of property subject to taxation
-Book value of real property in NC less debt to acquire

Sales Tax

Retail Sales & Use Tax Rate: 6.75% (4.25% state and 2.5% county)

Highway Use Tax on Automobiles: 3% with a maximum tax of $1,500.     

Source: North Carolina Department of Revenue

Some companies may qualify for certain tax credits such as: Job Creation Tax Credit, Investment Tax Credit, Worker Training Tax Credit, Research & Development Tax Credit, Central Administrative Office Tax Credit, Business Property Tax Credit, Tax Exempt Industrial Revenue Bonds (manufacturing only) Jobs Tax Credit Industrial Revenue Bonds (only manufacturing) Community Development Block Grants.

For additional information on these credits, contact the North Carolina Dept. of Commerce - Commerce Finance Center at 919 733-4151 or at http://www.nccommerce.com/en/BusinessServices/.

Town of Apex - (1) funds up to $1000 for façade improvements in the Historic Downtown Apex District; (2)Town will pay 75% of water/sewer capacity fees for businesses locating in the downtown B-2 district.  For more information on these credits contact the Apex Planning Department at (919) 249-3426.