GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 1991
CHAPTER 950
The General Assembly of North Carolina enacts:
Section 1. G.S. 105-163.15(f) reads as rewritten:
"(f) No addition to the
tax shall be imposed under subsection (a) if the tax shown on the return for
the taxable year reduced by the tax withheld under Article 4A is less than forty
dollars ($40.00) the amount set in section 6654(e) of the Code or if
the individual did not have any liability for tax under Division II of Article
4 for the preceding taxable year."
Sec. 2. This act is effective for taxable years beginning on or after January 1, 1992.
In the General Assembly read three times and ratified this the 14th day of July, 1992.
James C. Gardner
President of the Senate
Daniel Blue, Jr.
Speaker of the House of Representatives