Bill Summary for S 793 (2021)

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Summary date: 

May 25 2022

Bill Information:

View NCGA Bill Details2021
Senate Bill 793 (Public) Filed Wednesday, May 25, 2022
AN ACT TO STUDY IMPLEMENTATION OF AN E-COMMERCE FEE AND TO TRANSFER A PERCENTAGE OF SALES TAX REVENUES FOR TRANSPORTATION-RELATED NEEDS.
Intro. by Sawyer, McInnis, Woodard.

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Bill summary

Directs the Revenue Laws Study Committee to study the application of sales tax on delivery services for food, prepared food, and tangible personal property to a consumer to determine whether the current sales tax model can be improved by moving to a fixed excise tax amount, and whether the revenue generated from the existing or another model should be deposited in the Highway Trust Fund, in whole or in part, rather than the General Fund. Directs the Committee to report to the 2023 NCGA. 

Amends GS 105-164.44M to require the Secretary of Revenue to quarterly transfer a percentage of the net proceeds collected from the general sales and use taxes imposed under Article 5 of the Chapter to the Highway Trust Fund, with the transferred percentages gradually increasing from 2% in 2022-23, to 4% in 2023-24, and to 6% in 2024-25 and thereafter.

Effective July 1, 2022.