North Carolina § 142-92 - Tax exemption.
Full text of North Carolina North Carolina General Statutes § 142-92 — Tax exemption., with citation guidance and answers to common questions.
§ 142-92. Tax exemption.
Special indebtedness shall at all times be free from taxation by the State or any political subdivision or any of their agencies, excepting income taxes on the gain from the transfer of the indebtedness; and franchise taxes. The interest component of any payments made by the State under special indebtedness, including the interest component of any certificates of participation, is not subject to taxation as to income. History (2003-284, s. 46.2; 2003-314, s. 1; 2004-203, s. 79; 2015-264, s. 16(h).) Effect of Amendments. - Session Laws 2015-264, s. 16(h), effective October 1, 2015, deleted "estate, inheritance, and gift taxes" preceding "income taxes on the gain" near the middle of the first sentence.
Frequently Asked Questions About North Carolina § 142-92
What does North Carolina General Statutes § 142-92 cover?
Section 142-92 ("Tax exemption.") is part of the North Carolina General Statutes, the codified statutory law of North Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite North Carolina § 142-92?
A common citation format is "North Carolina General Statutes § 142-92" (North Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of North Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Carolina official source linked on this page or consult a licensed North Carolina attorney.
How does North Carolina § 142-92 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in North Carolina.