Participants at the annual Legislative Day for hosiery and textiles executives and their suppliers will receive a special presentation on a new tax formula for taxing manufacturing. Rep. Jason Saine of Lincoln County, senior finance committee chairman, has arranged to discuss Market Based Sourcing which links taxation to location of the plants, the percentage of manufacturing in North Carolina and the percentage of out-of-state sales. The issue will play an important role in tax reform legislation this year.
Visits have been scheduled with legislators from districts where hosiery and textiles manufacturing are prominent. This will follow a breakfast meeting in the Legislative Cafeteria where lawmakers will meet our group and hear a presentation from top officials from the Advanced Functional Fabrics of America which is managing a textiles manufacturing initiative funded by the Department of Defense.
Legislators are supported the Manufacturing Solutions Center and Textile Technology Center in a bid to attract a Fabric Discovery Center to North Carolina.
Registration of industry representatives is still open. We will assembly at the Holiday Inn Capitol in Raleigh on Tuesday, March 14 in time for dinner. A bloc of rooms at the Holiday Inn with a $104 rate is available until Monday, March 13. People will pay for their dinner and drinks. National Spinning Corp. is our breakfast host. Please notify Paul Fogleman at firstname.lastname@example.org if you will attend.