How are Recent Changes to Sales and Use Tax Impacting Your Company?
As you are likely aware, a number of key changes made to North Carolina’s tax laws during the 2016 legislative session involved expansions to the sales and use tax base. Many of these changes have already been implemented while a number of additional changes will be taking effect on Jan. 1, 2017.
Recently, the N.C. Department of Revenue (DOR) posted this informative document to their website. It contains an easy-to-digest, highly informative overview of the various changes to sales and use tax. DOR has informed the NC Chamber of its plans to mail a supplement to this document later this week to nearly 200,000 registered sales and use tax registrants, containing updated information on key changes taking effect in the new year. The department has also informed us that it plans to mail more than 10,000 notices specifically to licensed electrical contractors, intended to brief and provide relevant information to those who may have a new sales or use tax collections obligation after January 1, 2017. This mailing will be aimed particularly at those who may not be registered for sales and use tax purposes under current laws.
With these changes potentially impacting NC Chamber member companies across a wide array of industry sectors, we wanted to make sure you were aware of these important updates being provided by DOR. As the NC Chamber continues to work to foster new economic opportunities by protecting North Carolina’s status as one of the nation’s most competitive business tax climates most competitive tax climates, we appreciate our close working relationship with DOR in allowing us to keep you updated on potential changes to your tax liability. Please contact Eric Wayne, director of sales and use tax division at DOR, if you would like to learn more about these notices.
Gary J. Salamido
Vice President, Government Affairs
North Carolina Chamber