North Carolina change in electricity rate.

A 2.83% sales tax rate that applies to manufacturer’s purchases of qualified electricity replaces the current graduated rate and is now effective as of October 1, 2004. With this repeal of the 2001 provision on the reduction of tax rates on electricity, the North Carolina General Assembly estimates the state will save over $9 million each fiscal year. (H.B. 1430, Enacted July 17, 2004)

Posted on August 5, 2004