GENERAL ASSEMBLY OF NORTH CAROLINA

1985 SESSION

 

 

CHAPTER 821

HOUSE BILL 1451

 

AN ACT CLARIFYING WHEN A GIFT TAX RETURN MUST BE FILED.

 

The General Assembly of North Carolina enacts:

 

Section 1.  G.S. 105-197 is rewritten to read:

"§ 105-197. When return required; due date of return.-Anyone who, during the calendar year, gives to a donee a gift of a future interest or one or more gifts whose total value exceeds the amount of the annual exclusion set in G.S. 105-188(d) shall file a gift tax return, under oath or affirmation, with the Secretary of Revenue on a form prescribed by the Secretary. A return is due on or before April 15th following the end of the calendar year."

Sec. 2.  This act is effective upon ratification and applies to returns filed for the 1986 calendar year and thereafter.

In the General Assembly read three times and ratified, this the 27th day of June, 1986.