Bill Summary for H 1195 (2019-2020)

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Bill: SALES TAX EXEMPTION/BANKRUPTCY PROCEEDINGS.

Summary date: 

May 26 2020

Bill Information:

View NCGA Bill Details2019-2020 Session
House Bill 1195 (Public) Filed Tuesday, May 26, 2020
AN ACT TO EXEMPT SALES OF ITEMS SOLD PURSUANT TO A RECEIVERSHIP PROCEEDING OR TO AN ORDER OF FEDERAL BANKRUPTCY COURT.
Intro. by Zachary, Sasser.

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Bill summary

Amends GS 105-164.13 to exempt from retail sales and use tax the sale of items sold pursuant to (1) a receivership proceeding or (2) an order of the United States Bankruptcy Court. Applies to sales occurring on or after July 1, 2020.