Important Notice: Certain Metal Work Fabrication Companies

Associated Files


This document serves as notice that on July 14, 2016, the Governor signed Session Laws 2016-94. The Session Laws enact N.C. Gen. Stat. § 105-187.51B(a)(8) that provides effective July 1, 2016, a privilege tax is imposed on certain purchases by “[a] company (i) that is engaged in the fabrication of metal work, (ii) that has annual gross receipts, including the gross receipts of all related persons . . . from the fabrication of metal work of at least eight million dollars ($8,000,000), and (iii) that purchases equipment, or an attachment or repair part for equipment, that meets all of the following requirements:
a. Is capitalized by the company for tax purposes under the Code.
b. Is used by the company at the establishment in the fabrication or manufacture of metal products or used by the company to create equipment for the fabrication or manufacture of metal products.”