AN ACT TO MAKE TECHNICAL, CLARIFYING, AND ADMINISTRATIVE CHANGES TO THE REVENUE LAWS AND RELATED STATUTES.
Senate committee substitute makes the following changes to the 1st edition.
Deletes the content of the previous edition and replaces it with the following.
Amends the act's short and long titles.
Amends GS 105-130.4 by deleting the provision that includes corporations subject to control of the Interstate Commerce Commission in the definition of a public utility.
Amends GS 105-153.5, as amended, by amending the provision that requires a taxpayer to add to adjusted gross income for taxable years 2014 through 2016 the amount excluded from the taxpayers gross income for the discharge of qualified principal residence indebtedness. The provision is amended by adding that if the taxpayer is insolvent, then the addition is limited to the amount of discharge of qualified principal residence indebtedness excluded from adjusted gross income under section 108(a)(1)(E) of the Code that exceeds the amount of discharge of indebtedness that would have been excluded under section 108(a)(1)(B) of the Code.
Amends GS 105-164.13(11b), as amended, by clarifying that the sales tax exemption for the sale of aviation gasoline and jet fuel to an interstate air business for use in commercial aircraft also applies to aviation gasoline and jet fuel purchased for use in a commercial aircraft in interstate or foreign commerce by a person whose primary business is scheduled passenger air transportation. Effective January 1, 2016.
Amends GS 105-164.3(33c), as amended, to make a technical change to the definition of a qualifying datacenter.
Amends GS 105-164.4 to provide that subsection b, which requires that the tax imposed on retailers be collected from the retailer and paid by the retailer at the time and in the manner specified in b, applies to facilitators liable for tax under Article 5, Sales and Use Tax. Requires a facilitator liable for tax under Article 5 (was, under GS 105-164.4F) to get a certificate of registration. Makes conforming changes.
Amends GS 105-164.7, requiring a retailer to collect sales tax from the purchaser, by adding that the requirements of the statute apply to facilitators liable for tax under Article 5. Makes conforming changes.
Amends GS 105-164.13 concerning the exemption from sales and use tax for food and prepared food to be given to a person entitled to the food under a prepaid meal plan subject to tax, by adding that the exemption applies to packaging items that are (1) used for packaging, shipment, or delivery of the food and prepared food; (2) constitute a part of the sale of the food and prepared food; and (3) delivered with the food and prepared food.
Amends GS 105-164.15A(b) by amending the effective date of the rate change for an item taxable under Article 5 at the combined general rate so that it is: (1) for a taxable item that is not billed monthly or periodically, a tax change applies to amounts received for items provided on or after the effective date of a change in the State general rate of tax; (2) for a taxable item that is provided and billed monthly or periodically, a tax increase applies to the first billing period that is at least 30 days after enactment and that starts on or after the effective date, a tax rate decrease applies to bills rendered on or after the effective date.
Amends GS 105-187.5 by correcting a statutory reference.
Amends GS 153A-148.1 (affecting counties) and GS 160A-208.1 (affecting municipalities) to add that a current or former officer, employee, or agent of a county or city who in the course of service to or employment by the county or city has access to information about the amount of a taxpayer's income or receipts may disclose the information if it is done to disclose to the authorized finance officer of the city located within the county (for county employees), or to the authorized finance officer of the county in which the city is located (for city employees), tax information in the possession of the county or city as necessary to administer a tax.
Amends GS 66-294 by amending the requirements for nonparticipating manufacturers (which means a tobacco product manufacturer that is not a participating manufacturer, as defined in subsection II(jj) of the Master Settlement Agreement), by amending the amount of the bond that is required before a newly qualified nonparticipating manufacturer to be listed in the North Carolina Tobacco Directory or that the Attorney General determines poses an elevated risk of noncompliance must post before the nonparticipating manufacturer and any of its brand families can be included in the directory. The bond is to be an an amount equal to the greater of $50,000 or the greatest amount of escrow the manufacturer was required to deposit as a result of its highest calendar year's sale in the state for any of the preceding three calendar years or greatest quarterly escrow deposit for any of the preceding 12 calendar quarters (was, required to deposit as a result of its highest calendar year's sales in the state or greatest quarterly escrow deposit), depending on the manufacturer's required escrow deposit frequency. Effective October 1, 2016.
Amends GS 96-9.2 by adding that the calculations set out in the table in the statute for calculating the required contribution rate to the Unemployment Insurance Fund according to the Fund balance as a percentage of total insured wages is to be applied as of September 1 following the computation date. This section is effective when it becomes law and applies to contributions payable for calendar quarters beginning on or after January 1, 2017.
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