NORTH CAROLINA GENERAL ASSEMBLY

1981 SESSION

 

 

CHAPTER 86

HOUSE BILL 68

 

 

AN ACT TO EXEMPT FROM PROPERTY TAXATION "BILL AND HOLD" GOODS OWNED BY NONRESIDENTS AND HELD FOR SHIPMENT.

 

The General Assembly of North Carolina enacts:

 

Section 1. G.S. 105-275 is amended by adding a new subdivision to read as follows:

"(26)    For the tax year immediately following transfer of title, tangible personal property manufactured in this State for the account of a nonresident customer and held by the manufacturer for shipment. For the purpose of this subdivision, the term 'nonresident' means a taxpayer having no place of business in North Carolina."

Sec. 2. G.S. 105-282.1(2) is amended by deleting the words "and (15)", and inserting in lieu thereof ", (15) and (26)".

Sec. 3. This act shall become effective January 1, 1982.

In the General Assembly read three times and ratified, this the 13th day of March, 1981.