Senate amendment makes the following changes to 2nd edition. Current law repealed GS 105-130.6 regarding subsidiary and affiliated corporations effective January 1, 2012. Amends GS 105-130.2 to add definitions for the following terms that were previously defined in repealed GS 105-130.6: (1) affiliate, (2) parent, and (3) subsidiary. Makes conforming changes to the numbering of the provisions in GS 105-130.2. Makes conforming changes to GS 105-122(b1), 153A-279(a)(1), 160A-236(a)(1), and 160A-626(a)(1) to reflect the repeal of GS 105-130.6. Amends GS 105-130.14 to provide that corporations filing consolidated tax returns for federal income tax purposes cannot file a consolidated or combined return with the NC Secretary of Revenue except (1) as specifically directed in writing by the Secretary under GS 105-130.5A (was, GS 105-130.6) or (2) with written advice from the Secretary allowing (was, requiring) a consolidated return in response to a written request from the corporation under GS 105-130.5A. Repeals GS 105-262(b) regarding notice and hearing exceptions for rules proposed under repealed GS 105-130.6.
Amends GS 105-164.3 (definitions) to specify that a (26b) prepaid calling service and a (27a) prepaid wireless calling service must meet the requirement of being sold in predetermined units or dollars.
Amends GS 105-164.4B(a) to delete the terms, but retaining the provisions concerning over the counter sales and delivery to a specified address.
Amends GS 105-236 to make adjustments providing that the penalty for failing to file a return accrues during the time that the failure continues to an amount not to exceed 25% in the aggregate (was, whichever was greater, 25% in the aggregate or $5.00); and to provide that the penalty for failing to pay tax when it is due is 10% of the tax (was, 10% of the tax, subject to a $5.00 minimum). Effective January 1, 2014.
Rewrites GS 121-5(e) as Archives and Records Management Fund (was, Program Funding). Establishes the Fund as a special revenue fund consisting of fees credited to the Fund under GS Chapter 161. Specifies how the Fund revenue may be used. Effective July 1, 2012.
Amends GS 105-330.3 to specify the applicable rates at which interest accrues on unpaid taxes for unregistered classified motor vehicles. Makes conforming change to subsection (b) of GS 105-330.4.
Makes technical changes.