GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 2003

 

 

SESSION LAW 2003-5

SENATE BILL 235

 

 

AN ACT to allow a retailer that leases motor vehicles and that has paid the highway use tax on the motor vehicles to pay an additional gross receipts tax on the motor vehicles.

 

The General Assembly of North Carolina enacts:

 

SECTION 1.  Notwithstanding the provisions of G.S. 105-187.5 to the contrary, a retailer that leases or rents motor vehicles and that has paid the tax on the motor vehicles imposed pursuant to G.S. 105-187.3 may elect to pay the tax imposed pursuant to G.S. 105-187.5 in addition to the taxes previously paid.  This election must be submitted to the Division of Motor Vehicles and Secretary of Revenue in writing and must specifically identify the motor vehicles to which the election applies, the date upon which the retailer will begin to collect the additional taxes, and any additional information needed to collect the tax.  An election made under this act is irrevocable and does not relieve the taxpayer of liability for a tax previously imposed.  An election under this act must be made prior to July 1, 2003.

SECTION 2.  This act is effective when it becomes law.

In the General Assembly read three times and ratified this the 24th day of March, 2003.

 

 

                                                                    s/ Beverly E. Perdue

                                                                         President of the Senate

 

 

                                                                    s/ Richard T. Morgan

                                                                         Speaker of the House of Representatives

 

 

                                                                    s/ Michael F. Easley

                                                                         Governor

 

 

Approved 8:33 a.m. this 28th day of March, 2003