Agenda - 05-04-2006-8a - Laserfiche WebLink

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General Assembly of North Carolina Session 2005 1 The definitions in G.S. 105-164.3 apply to this Article, except that the term 'sale' 2 does not include lease or rental. As used in this Article 'electronic device' means central 3 processing units, whether sold alone or with accessories; computer monitors laptop 4 computers; televisions with video displays havine a viewable area rg eater. than nine 5 inches when measured diaeonally; and computer printers and multifimction printers. 6 "& 105-187.61. Tax imposed. 7 A privilege tax is imposed on an electronic device retailer on a percentage basis of 8 the sales price of each new electronic device sold at retail by the retailer. An excise tax 9 is imposed on a new electronic device purchased outside the State for storage, use, or 10 consumption in this State. The rate of the privilege tax and the excise tax is one percent 11 (1%) of the sales price of each new electronic device. These taxes are in addition to all 12 other taxes. 13 "S 105-187.62. Administration. 14 The privilege tax this Article imposes on an electronic device retailer is an additional 15 State sales tax, and the excise tax this Article imposes on the storage, use, or' 16 consumption of a new electronic device in this State is an additional State use tax. 17 Except as otherwise provided in this Article, these taxes shall be collected and 18 administered in the same manner as the State sales and use taxes imposed by Article 5 19 of this Chapter. As under Article 5 of this Chapter, the additional State sales tax paid 20 when a new electronic device is sold at retail is a credit against the additional State use 21 tax imposed on the storage, use, or consumption of the same electronic device. 22 "~ 105-187.63. Exemptions and refunds. 23 Except for the exemption provided in G.S. 105-164.13(17), the exemptions in 24 G.S. 105-164.13 do not apply to the taxes imposed by this Article. The refimds allowed 25 in G.S. 105-164.14 do not apply to the taxes imposed by this Article. 26 "S 105-187.64. Use of tax proceeds. 27 The Secretary shall distribute the taxes collected under this Article, less the 28 Department of Revemie's allowance for administrative expenses, in accordance with this 29 section. The Secretary may retain the Department's cost of collection, not to exceed two 30 hundred twenty-five thousand dollars ($225,000) a year, as reimbursement to the 31 Department. Retailers may retain up to two percent (2%) of the collected tax for 32 administrative costs related directly to the tax. Each quarter, the Secretary shall credit 33 the net tax proceeds to the Electronics Rec~ng Account. 34 "§§ 105-187.65 through 105-187.69: Reserved for fuhire codification purposes." 35 SECTION 2. Article 9 of Chapter 1.30A of the General Statutes is amended 36 by adding a new Part to read 37 "Part 2E. Electronics Recti cling Act of 2005. 38 "& 130A-309.90. Title. 39 This Part may be cited as the 'North Carolina Electronics Rec} cline Act of 2005'. 40 "~ 130A-309.91. Definition. 41 As used in this Part, 'electronic device' means central processing units, whether sold 42 alone or with accessories; computer monitors; laptop computers; televisions with video 43 displays havine a viewable area ereater than nine inches when measured diaeonally; and 44 computer printers and multifunction printers Page 2 Senate Bill 10.30-First Edition