Bill Summary for S 490 (2013-2014)

Summary date: 

Mar 27 2013
S.L. 2013-259

Bill Information:

View NCGA Bill Details2013-2014 Session
Senate Bill 490 (Public) Filed Wednesday, March 27, 2013
A BILL TO BE ENTITLED AN ACT TO EXCLUDE CUSTOM SOFTWARE FROM PROPERTY TAX.
Intro. by Gunn, Barefoot, Walters.

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Bill summary

Identical to H 453, filed 3/27/13.

As title indicates.  Amends GS 105-275(40), (Property classified and excluded from the tax base), deleting GS 105-275(40)b, which provides 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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