Bill Summary for H 959 (2013-2014)

Summary date: 

Apr 17 2013

Bill Information:

View NCGA Bill Details2013-2014 Session
House Bill 959 (Public) Filed Wednesday, April 17, 2013
A BILL TO BE ENTITLED AN ACT TO EXTEND BY TWO YEARS THE PERIOD FOR WHICH A LARGE MANUFACTURING AND DISTRIBUTION FACILITY IS ELIGIBLE FOR THE ONE PERCENT/EIGHTY-DOLLAR PRIVILEGE TAX ON PURCHASES OF CERTAIN MACHINERY AND EQUIPMENT AND TO DIRECT THE REVENUE LAWS STUDY COMMITTEE TO STUDY THE SCOPE AND APPLICATION OF THE ONE PERCENT/EIGHTY-DOLLAR PRIVILEGE TAX APPLICABLE TO MILL MACHINERY AND CERTAIN OTHER MACHINERY AND EQUIPMENT.
Intro. by Malone, Lewis, Starnes, Collins.

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Bill summary

Amends GS 105-187.51B(a) adding subsection (6) imposing a privilege tax at a rate of 1% of the sales price of the equipment or personal property up to $80 per item on a company engaged in fabrication of metal work that purchases equipment or an attachment or repair part that is (1) capitalized by the company for tax purposes and (2) used by the company in the fabrication of metal products or used to create equipment for the fabrication of metal products.

Effective July 1, 2013.

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