The North Carolina Department of Revenue is accepting public comment on G.S. 150B-21.3A Report for 17 NCAC, Chapter 04, License and Excise Tax Division.
More information and the report is accessible here.
The public comment period concerning the Department's initial classifications of these rules begins on June 11, 2018 and ends at 5:00 p.m. on August 17, 2018.
Public comments shall be in writing and shall be directed to:
The NCDOR recently published four new sales and use tax directives to communicate changes of the interpretation in the taxability of the following:
SD 18-2, published May 21, addresses the application of sales and use tax concerning the effective date of a tax change applicable to billings for the lease or rental of tangible personal property or digital property provided and billed on a monthly or other periodic basis.
The NCDOR is offering tax relief for victims of the April 15 tornadoes and storms that affected several counties in North Carolina. The agency’s penalty policy allows for waivers for taxpayers unable to file returns or pay taxes on time because of a natural disaster.
Read the notice about the tax relief.
The NCDOR has published a directive regarding repair, maintenance and installation services to real property and real property contracts. The directive addresses a number of issues concerning the application of sales and use taxes for services to real property. The issues addressed are based on recent law changes and inquiries or suggestions received by the department.
The notice serves as a reminder that effective July 1, 2018, Article 5F of Chapter 105 of the North Carolina General Statutes is repealed for sales and purchases occurring on or after such date.
A written determination applies the tax law to a specific set of existing facts furnished by a particular taxpayer. A written determination is applicable only to the individual taxpayer addressed and as such has no precedential value except to the taxpayer to whom the determination is issued.
A written determination applies the tax law to a specific set of existing facts furnished by a particular taxpayer. A written determination is applicable only to the individual taxpayer addressed and as such has no precedential value except to the taxpayer to whom the determination is issued.
The NCDOR has published a directive that clarifies the definition of a holding company. The clarification should help in calculating a corporation’s annual franchise tax liability.
The form was updated to incorporate legislative changes enacted by the 2017 Session of the General Assembly. Generally, services to real property are retail sales of or the gross receipts derived from repair, maintenance, and installation services, unless a person substantiates that a transaction is subject to sales and use tax as a real property contract, a mixed transaction contract, or the transaction is not subject to sales and use tax.
The NCDOR has introduced a revised penalty policy that is effective for penalty waiver requests considered on or after March 1, 2018.