Senate committee substitute to the 5th edition makes the following changes.

Amends the act's long title. 

Adds new article 5K (Hemp-Derived Consumable Products Tax), which imposes an excise tax of 10.5% on the retail sale of a hemp-consumable product (defined) in addition to any other applicable federal, State, or local tax, to GS Chapter 105. Directs that the tax is intended to be passed on to and borne by the purchaser of the hemp-derived consumable product. Specifies that the tax is recoverable by the retailer in the same manner as other debts. Requires hemp-derived consumable products retailers to register with the Department of Revenue (DOR). Requires the non-assignable certificate of registration to be displayed at each retailer's place of business. Specifies that a registration is valid unless (1) it is revoked for failure to comply with the provisions of Article 5K or (2) it becomes void if, for a period of eighteen months, the person files no returns or files returns showing no sales. Provides for revocation of the certificate for failure to comply with Article 5k. Provides for notice, opportunity for objection, and review of allegations in those matters. Directs that the tax be collected and administered in the same manner as State sales and use taxes. Applies the provisions of GS Chapter 105 Article 9 (administration) that are not inconsistent with new Article 5K, including administration, auditing, making returns, promulgation of rules and regulations by the Secretary of Revenue, additional taxes, assessments and assessment procedure, imposition and collection of taxes and the lien thereof, and penalties, to new Article 5K. Directs that the exemptions and refunds allowed in GS Chapter 105's provisions pertaining to sales and use taxes do not apply to sales that the State cannot constitutionally tax. Effective July 1, 2025, and applies to sales occurring on or after that date.