Bill Summary for S 440 (2021-2022)

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Bill: NONPROFIT FUNDRAISING SALES TAX EXEMPTION.

Summary date: 

Mar 31 2021

Bill Information:

View NCGA Bill Details(link is external)2021
Senate Bill 440 (Public) Filed Wednesday, March 31, 2021
AN ACT TO EXEMPT CERTAIN FUNDRAISING EVENTS BY NONPROFITS FROM SALES TAX.
Intro. by Davis, Burgin.

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Bill summary

Amends GS 105-164.4G, which taxes gross receipts derived from an admission charge to an entertainment activity, to exempt from the tax events held by a nonprofit exempt from tax under Article 4 (income tax) of GS Chapter 105 solely for fundraising purposes for the entity. Applies to admission charges for entertainment activities held on or after July 1, 2021.