Bill Summary for H 453 (2013-2014)

Summary date: 

Mar 27 2013

Bill Information:

View NCGA Bill Details2013-2014 Session
House Bill 453 (Public) Filed Wednesday, March 27, 2013
A BILL TO BE ENTITLED AN ACT TO CORRECT ERRORS IN CALCULATING PROPERTY TAX LIABILITY ON COMPUTER SOFTWARE.
Intro. by J. Bell, Hager, Lewis, T. Moore.

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Bill summary

As title indicates.  Amends GS 105-275(40) (Property classified and excluded from the tax base), deleting GS 105-275(40)b, which provided that the exclusion does not apply to software purchased or licensed from an unrelated person that is capitalized in the taxpayer's books. Also deletes language referencing embedded software as it relates to software that is not included in the exclusion.

Effective for taxes imposed for taxable years beginning on or after July 1, 2013.

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