Agenda - 04-01-1991 - Laserfiche WebLink

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GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 1991 1 percentage of the Toss receipts -derived by the lessor - or renter 2 from the short -term lease or rental of motor vehicles. The tax 3 rate may not exceed five percent (5%). A tax im osed under this 4 section applies to short -term leases or rentals made by a lessor 5 or renter whose place of business or inventory is located within 6 the territorial jurisdiction of the authority. This tax is in 7 addition to all other taxes. 8 (b) Restrictions. -- The Board of Trustees of an authority may 9 not impose a tax under this section or increase the tax rate of a 10 tax imposed under this section until all of the following 11 requirements have been met: 12 (1) The board of commissioners of each county included 13 in the territorial Jurisdiction of the authorit 14 has adopted a resolution aP2rovinq the im osition 1S of the tax or the increase in the tax rate. 16 (2) The special tax board of the authority has adopted 17 a resolution approvin2 the imposition of the tax or 18 the increase in the tax rate. 19 (3) The Board of Trustees has held a public hearing on 20 the tax or the increase in the tax rate after 21 !giving-at least 10 days' notice of the hearin . 22 "S 105 -552. Collection and administration of gross receipts tax. 23 (a) Effective Date. -- A tax or a tax increase imposed under 24 this Subcha ter becomes effective on the date set by the Board of 25 Trustees in the resolution imposing the tax or the tax increase. 26 The effective date must be the first day of a month and may not 27 be earlier than the first day-of the second month after the board 28 ado is the resolution. 29 (b) Collection. -- A tax im osed by an authority under this 30 Subcha ter shall be collected by the authority but shall 31 otherwise be administered in the same manner as the optional 32 !gross receipts tax imposed by G.S. 105 - 187.5. Like the a tional 33 q Iross receipts tax, a tax imposed under this Subchapter is to be 34 added to the lease or rental price of a motor vehicle and thereb 35 be paid by the 2erson who leases or rents the motor vehicle. 36 A tax imposed under this Subcha ter applies regardless whether 37 the lessor or renter of a motor vehicle has elected to a the 38 optional gross receipts tax on the lease or rental receipts from 39 the motor vehicle. A tax imposed under this Subchapter is 40 paXable by a lessor or renter to the authority that imposed the 41 tax b the date an o tional gross recei is tax would be 2ayable 42 to the Secretary of Revenue under G.S. 105 -187.5 if the lessor or 43 renter had elected to pay the optional gross recei is tax. r Page 2 House Bill 80