Agenda - 08-30-2007-4 - Laserfiche WebLink

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SL2007-0323 accordance with the rocedures of G.S. 163-287. c Ballot question. -The form of t e qu election concerning_the levy of the tax authorized Local sales and use tax at the rate of other State and ocal sa es an use taxes.' Limitation. - A tax levied under this same time as a tax levied under Article 60 of this "~ 105-538. Administration of taxes. Page 264 of 272 .25%) in addition to all under this Article does not apply to the sales price of food that is exempt izom tax pursuant to G.S. 105-164.13B. The Secretary shall not divide the amount allocated to a county between the coon and t e mumci a~ities wit~im t e coon Notwlt stan~m the rovlslons of G.S. 105-467(c), during t e 2008 calendar year a tax levied under this Article may become __ least 60 days' advance notice of the new tax ew. SECTION 31.17.(c) G.S. 105-164.15A reads as rewritten: "§ 105-164.1SA. Effective date of rate changes for sir: services 'and items taxed at combined general rate. ~ Services. -The effective date of a rate change for a service taxable under this Article is administered as follows: (1) For a rate increase, the new rate applies to the first billing period that starts on or after the effective date. For a service billed after it is rovided, the first billing period starts on the effective date. For a service billed before it is provided, the first billing period starts on the first day of the month after the effective date. (2) For a rate decrease, the new rate applies to bills rendered on or after the effective date. ~b Combined Rate Items -The effective date of a rate change for an item that is taxable under this Article at the combined~eneral rate is the effective date of any of the followuz~: The effective date of a change in the State general rate of tax set in G.S. 105-164.4. ~2) For an mcrease in the authorization for local sales and use taxes, the date on ~ . .Y t t C__1_ _7_ ___a. ___ T TTTT _-. 1'x.7...,. rl, .....4.... (~ For a repeal in the authorization for local sales and use taxes the effective date of the repeal." SECTION 31.17.(d) This section is effective when it becomes law. ALTERNATIVE FOR ADDRESSING A CORPORATION'S ATTEMPT TO AVOID STATE TAXES THROUGH THE I.TSE OF A REIT SECTION 31.18.(a) G.S. 105-130.5(a) is amended by adding a new subdivision to read: " 19 The dividend paid deduction allowed under the Code to a captive REIT, as defined in G.S. 105-130.12." SECT - 0.5(b) is amended by adding a new subdivision to read: " 23 A dividend received from a ca tive REIT, as defined in G.S. 105-130.12." . c rea s as rewritten: "§ 105-130.12. Real estate investment trusts.