North Carolina Governor Signs Temporary Rate Extension Bill

Governor Mike Easley signed a bill which temporarily extends the 0.25% provisional rate increase until August 1, 2007. Previously, the rate increase was set to expire on June 30, 2007. In addition, all retailers that make a good faith effort to comply with the law’s extension and collect the proper amount of tax will not be liable for any over/under-collections of sales tax during July. [Ch. 145 (H.B. 2044), Laws 2007, effective June 29, 2007]

Posted on July 3, 2007