TO MAKE TECHNICAL, CLARIFYING, AND ADMINISTRATIVE CHANGES TO THE TAX AND RELATED LAWS.
Makes technical and clarifying changes to various provisions in GS Chapter 105 and to GS 160A-536(e)(2). Rewrites GS 105-228.90(b)(1b) to update to January 1, 2012, the reference to the Internal Revenue Code. Makes a technical change to GS 20-63(b1) and corrects two license plate fees in GS 20-79.7(a).
Amends GS 105-113.38 (bond requirement) to specify that a bond may also include an irrevocable letter of credit. Amends GS 105-120.2(c), expanding the definition of holding company. Amends GS 105-164.4B(a) to add provisions that apply when determining where to source the sale of a product. Restores language in new GS 105-164.12C, effective August 7, 2009, concerning treatment of items given away by a retailer. Amends GS 105-187.43(b) to require a taxpayer who is consistently liable for $20,000 (was, $10,000) of tax on piped natural gas a month to make a monthly prepayment of the next month’s tax liability. Amends GS 161-10 (uniform fees of registers of deeds) to delete the fee for subsequent instruments and instead imposes an additional $10 fee for each additional reference, as detailed; this provision currently expires July 1, 2013.
Effective December 1, 2012, amends several provisions in the Emergency Program to Reduce Home Foreclosures Act to reference the State Home Foreclosure Prevention Project as a project of the Housing Finance Agency. Makes conforming changes removing references to the Commission of Banks, removes the sunset date, and states that the Housing Finance Agency assumes responsibilities of the Prevention Project by December 31, 2012.
Amends GS 105-330.2(b1) (concerning motor vehicle taxes) to clarify that the owner of a motor vehicle may appeal the appraised value (was, the appraised value or taxability) of the vehicle. Adds subsection (b2), detailing the process to appeal the vehicle’s eligibility for an exemption or exclusion. Amends GS 105-330.3 to set out the procedure for collecting tax on an unregistered vehicle. Amends GS 105-330.4(c) to add that enforcement remedies do not apply to unpaid taxes on a vehicle for which the tax year begins on or after August 1, 2013. Repeals GS 105-330.5(e) (concerning small under- or over-payment of tax). Makes other clarifying and conforming changes to Article 22A (motor vehicles) in GS Chapter 105 and to the applicable session laws.
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