Laws of North Carolina (Last Updated: May 12, 2015) |
Chapter105. Taxation. |
SubchapterI. LEVY OF TAXES |
Article8A. Gross Earnings Taxes on Freight Line Companies in Lieu of Ad Valorem Taxes |
§105-228.1. Defining taxes levied and assessed in this Article
Latest version.
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The purpose of this Article is to levy a fair and equal tax under authority of Section 2(2) of Article V of the North Carolina Constitution and to provide a practical means for ascertaining and collecting it. The taxes levied and assessed in this Article are on gross earnings, as defined in the Article, and are in lieu of ad valorem taxes upon the properties of persons taxed in this Article.
(1954, c. 400, s. 8; 1998-98, ss. 64, 109.)