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0?0 <br />GENERAL ASSEMBLY OF NORTH CAROLINA <br />SESSION 2007 <br />SESSION LAW 2008-144 <br />SENATE BILL 1852 <br />AN ACT TO RESOLVE PROBLEMS WITH APPLYING PROPERTY TAX TO <br />HEAVY EQUIPMENT RENTED ON A SHORT-TERM BASIS BY REPLACING <br />THE PROPERTY TAX ON THIS EQUIPMENT WITH A TAX ON THE GROSS <br />RECEIPTS FROM RENTING THE EQUIPMENT. <br />The General Assembly of North Carolina enacts: <br />SECTION 1. G.S. 105-275 is amended by adding a new subdivision to read: <br />105-275. Property classified and excluded from the tax base. <br />The following classes of property are hereby designated special classes under <br />authority of Article V, Sec. 2(2), of the North Carolina Constitution and shall not be <br />listed, appraised, assessed, or taxed- <br />(42a) Heavy equipment on which a gross receipts tax may be imposed under <br />E <br />SEC I ]ON 2. Article 7 of Chapter 153A of the General Statutes is amended <br />