NORTH CAROLINA GENERAL ASSEMBLY

1973 SESSION

 

 

CHAPTER 839

SENATE BILL 144

 

 

AN ACT TO PROVIDE FOR THE TAXATION OF THE REAL AND PERSONAL PROPERTY OF HOSPITAL, MEDICAL, AND DENTAL SERVICE CORPORATIONS.

 

The General Assembly of North Carolina enacts:

 

Section 1.  G.S. 57-14 is rewritten to read as follows:

"§ 57-14.  Taxation. — For the purpose of raising revenues sufficient to defray the expenses of the administration of this Chapter, and in lieu of all other State-levied taxes, an annual franchise or privilege tax is hereby levied upon every corporation subject to the provisions of this Chapter at the rate of one third of one percent of the gross annual collections from membership dues exclusive of receipts from cost plus plans. The real and personal property of such corporations is taxable under the provisions of Subchapter II of Chapter 105 of the General Statutes."

Sec. 2.  This act shall become effective on January 1, 1975.

In the General Assembly read three times and ratified, this the 7th day of February, 1974.