North Carolina § 105-449 - 93. Percentage discount for licensed distributors and some licensed importers.

§ 105-449. 93. Percentage discount for licensed distributors and some licensed importers.

Repealed by Session Laws 2006-162, s. 14(d), effective January 1, 2007, and applicable to motor fuel purchased on or after that date. Percentage Discount. - A licensed distributor that pays the tax due a supplier by the date the supplier must pay the tax to the State may deduct from the amount due a discount of one percent (1%) of the amount of tax payable. A licensed importer that removes motor fuel from a terminal rack of a permissive or an elective supplier and that pays the tax due the supplier by the date the supplier must pay the tax to the State may deduct from the amount due a discount of the same amount allowed a licensed distributor. The discount covers the expense of furnishing a bond and losses due to shrinkage or evaporation. A supplier may not directly or indirectly deny this discount to a licensed distributor or licensed importer that pays the tax due the supplier by the date the supplier must pay the tax to the State. History (1995, c. 390, s. 3; 1995 (Reg. Sess., 1996), c. 647, s. 27; 2006-162, s. 14(d).) Editor's Note. - Session Laws 2006-162, s. 33, provides, in part, that: "An exempt card or code will not be valid for sales of motor fuel at the terminal rack on or after January 1, 2007." Effect of Amendments. - Session Laws 2006-162, s. 14(d), effective January 1, 2007, and applicable to motor fuel purchased on or after that date, deleted "Exempt sale deduction and" at the beginning of the section catchline; deleted former subsection (a) which read: "Deduction. A license holder listed below may deduct from the amount of tax otherwise payable to a supplier the amount calculated on motor fuel the license holder received from the supplier and resold to a governmental unit whose purchases of motor fuel are exempt from the tax under G.S. 105-449.88 if, when removing the fuel, the license holder used an access card or code specified by the supplier to notify the supplier of the license holder's intent to resell the fuel in an exempt sale: (1) A licensed distributor. (2) A licensed importer that removed the motor fuel from a terminal rack of a permissive or an elective supplier." § 105-449.94: Repealed by Session Laws 2006-162, s. 14(e), effective January 1, 2007, and applicable to motor fuels purchased on or after that date. § 105-449.95: Recodified as G.S. 105-449.105 B by Session Laws 2009-445, s. 35(a), effective January 1, 2010.