Bill Summary for S 523 (2019-2020)

Summary date: 

Jun 19 2019

Bill Information:

View NCGA Bill Details2019-2020 Session
Senate Bill 523 (Public) Filed Tuesday, April 2, 2019
AN ACT TO MAKE VARIOUS CLARIFYING AND ADMINISTRATIVE CHANGES TO THE REVENUE LAWS.
Intro. by Tillman, Hise, Newton.

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Bill summary

Senate amendments to the 2nd edition make the following changes.

Amendment #1 makes the following changes. Makes a technical deletion in Section 3.4(b). Corrects an internal reference in Section 3.4(c). Make a clarifying change to GS 105-164.4K(d). Make a technical change to the lead-in language in Section 3.11(a). Makes a clarifying change to GS 105-164.13(61a). Makes additional technical changes.

Amendment #2 adds a section amending GS 105-164.13 to exempt from retail sales and use tax the sale of equipment, or an attachment or repair part for such equipment, used in cutting, shaping, polishing, and finishing rough cut slabs and blocks of stone and stone-like products and sold to a company primarily engaged in providing made-to-order countertops, walls, or tubs. Applies to sales made on or after October 1, 2019.

Amendment #3 amends GS 105-251.2(c1) to allow the  Secretary of Revenue to request a franchisor with at least one franshisee located in the state to provide the following on each franchisee: its legal name, its federal tax identification number, and its gross sales reported to the franchisor (was, the Secretary may request the franchisor to provide on a return, report, or otherwise, a franchisee's name, tax identification number, business address, and any other information pertaining to the franchisee in possession of the franchisor that the Secretary deems necessary to determine the franchisee's compliance). 

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