Important Notice: Service Contracts

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This document serves as notice that effective October 1, 2014, N.C. Gen. Stat. § 105-164.4(a)(11), as amended, imposes a privilege tax at the 4.75% general State and applicable local and transit rates of sales and use tax on a retailer to the sales price of or the gross receipts derived from a service contract sold at retail. Additionally, a service contract sold at retail on or after October 1, 2014 is taxed in accordance with N.C. Gen. Stat. § 105-164.4I.