North Carolina § 105-187 - 16. Tax imposed.

§ 105-187. 16. Tax imposed.

Levy. A privilege tax is imposed on a tire retailer at a percentage rate of the sales price of each new tire sold at retail by the retailer. A privilege tax is imposed on a tire retailer and on a tire wholesale merchant at a percentage rate of the sales price of each new tire sold by the retailer or wholesale merchant to a wholesale merchant or retailer for placement on a vehicle offered for sale, lease, or rental by the retailer or wholesale merchant. An excise tax is imposed on a new tire purchased for storage, use, or consumption in this State or for placement in this State on a vehicle offered for sale, lease, or rental. This excise tax is a percentage rate of the purchase price of the tire. These taxes are in addition to all other taxes. Rate. The percentage rate of the taxes imposed by subsection (a) of this section is set by the following table; the rate is based on the bead diameter of the new tire sold or purchased: Less than 20 inches 2% At least 20 inches 1%. History (1991, c. 221, s. 1; 1993, c. 548, s. 1; 1997-209, s. 1; 2001-414, s. 22; 2002-10, s. 1.) Editor's Note. - Session Laws 1993, c. 548, s. 9, provided that the amendment by c. 548, s. 1 would expire June 30, 1997. Session Laws 1997-209, s. 1, changed the expiration date to June 30, 2002. Session Laws 2002-10, s. 1, repealed the expiration provision for Section 1 of Session Laws 1993, c. 548.