A BILL TO BE ENTITLED AN ACT TO DELAY THE EFFECT OF CHANGING THE DISTRIBUTION METHOD OF THE FIRST ONE-CENT LOCAL GOVERNMENT SALES AND USE TAX.
Amends GS 105-472(b) updating the period of time for which the method of distribution chosen by a board of county commissioners for the first one cent sales and use tax will take effect. Instead of the next succeeding fiscal year, the distribution will be in effect in the county during the fiscal year succeeding the next succeeding fiscal year. The previous method of distribution must continue in effect until a resolution changing the method of distribution is properly adopted and delivered if the board fails to adopt a resolution or if it is not timely delivered to the secretary of revenue. The method of distribution will take effect on the first day (instead of July) of each fiscal year.
The fiscal year is from October 1 to September 30.
© 2021 School of Government The University of North Carolina at Chapel Hill
This work is copyrighted and subject to "fair use" as permitted by federal copyright law. No portion of this publication may be reproduced or transmitted in any form or by any means without the express written permission of the publisher. Distribution by third parties is prohibited. Prohibited distribution includes, but is not limited to, posting, e-mailing, faxing, archiving in a public database, installing on intranets or servers, and redistributing via a computer network or in printed form. Unauthorized use or reproduction may result in legal action against the unauthorized user.