Bill Summary for S 523 (2013-2014)

Summary date: 

Jul 23 2013
S.L. 2014-45

Bill Information:

View NCGA Bill Details2013-2014 Session
Senate Bill 523 (Local) Filed Thursday, March 28, 2013
AN ACT TO REMOVE DESCRIBED PARCELS FROM THE CORPORATE LIMITS OF THE TOWN OF WRIGHTSVILLE BEACH AND TO ANNEX THOSE PARCELS TO THE CORPORATE LIMITS OF THE CITY OF WILMINGTON.
Intro. by Rucho, Rabon, Rabin.

View: All Summaries for BillTracking:

Bill summary

House committee substitute to the 2nd edition makes the following changes.

Amends GS 105-336 by removing the previous changes and amending the statute to instead provide that in case of failure to file a return when it is due, the penalty is (1) for individual income tax excluding income tax paid by a partnership or an S corporation, $100 if the net amount of the tax is greater or equal to zero. Defines the net amount of the tax or (2) for all other taxes and individual income taxes paid by a partnership or an S corporation, the penalty is equal to 5% of the amount of the tax if the the failure is for no more than one month, with an additional 5% for each additional month, not exceeding 25% in the aggregate (was, 25% in the aggregate or $5, whichever is greater). Adds a definition for amount of the tax.

Deletes changes to GS 105-236 and the repeal of SL 2012-79, Section 2.18.

Makes the act effective for penalties assessed on or after January 1, 2014 (was, October 1, 2013).

© 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.

Printer-friendly: Click to view