North Carolina § 105-113 - 85. Discount.

§ 105-113. 85. Discount.

Each wholesaler or importer who files a timely return and sends a timely payment may deduct from the amount payable a discount of two percent (2%). This discount covers losses due to spoilage and breakage, expenses incurred in preparing the records and reports required by this Article, and the expense of furnishing a bond. History (1985, c. 114, s. 1; 2000-173, s. 5; 2001-414, s. 5; 2003-284, s. 45A.2(a); 2004-84, s. 2(d).) Editor's Note. - Session Laws 2003-284, s. 48.1, provides: "Parts 32 through 47 of this act do not affect the rights or liabilities of the State, a taxpayer, or another person arising under a statute amended or repealed by those parts before the effective date of its amendment or repeal; nor do they affect the right to any refund or credit of a tax that accrued under the amended or repealed statute before the effective date of its amendment or repeal." This section was repealed by Session Laws 2003-284, s. 45A.2(a), effective for reporting periods beginning on or after August 1, 2003. Session Laws 2004-84, s. 2(d), reenacted and amended the section, effective for reporting periods beginning on or after August 1, 2004. Effect of Amendments. - Session Laws 2004-84, s. 2.(d), effective for reporting periods beginning on or after August 1, 2004, reenacted and amended the section by substituting "two percent (2%)" for "four percent (4%)."