§105-113.40A. Use of tax proceeds

Latest version.

The Secretary must credit the net proceeds of the tax collected under this Part as follows:

(1)        An amount equal to three percent (3%) of the cost price of the products to the General Fund.

(1a)      (Effective June 1, 2015) An amount equal to the revenue generated by the tax on vapor products under G.S. 105-113.35(a1) to the General Fund.

(2)        The remainder to the University Cancer Research Fund established under G.S. 116-29.1.

(2009-451, s. 27A.5(d); 2010-95, s. 1; 2014-3, s. 15.1(e).)

                    
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