NORTH CAROLINA GENERAL ASSEMBLY

1961 SESSION

 

 

CHAPTER 575

SENATE BILL 207

 

 

AN ACT TO AMEND G.S. 28‑170 TO MAKE IT CLEAR THAT A TRUSTEE, GUARDIAN, ADMINISTRATOR, COLLECTOR OR OTHER PERSONAL REPRESENTATIVE IS ENTITLED TO COMMISSIONS UPON TAXES WITHHELD AT THE SOURCE.

 

The General Assembly of North Carolina do enact:

 

Section 1.  G.S. 28‑170, as the same appears in the 1959 Supplement to the General Statutes, is amended by adding at the end thereof a new sentence to read as follows:

"For the purpose of computing commissions whenever any portion of the dividends, interest, rents or other amounts payable to an executor, administrator, trustee, collector or other personal representative or fiduciary is required by any law of the United States or other governmental unit to be withheld for income tax purposes by the person, corporation, organization or governmental unit paying the same, the amount so withheld shall be deemed to have been received and expended."

Sec. 2.  All laws and clauses of laws in conflict with this Act are hereby repealed.

Sec. 3.  This Act shall be in full force and effect from and after its ratification.

In the General Assembly read three times and ratified, this the 1st day of June, 1961.