S56 - Revenue Laws Technical Changes. (SL 2019-6)

Overview: S.L. 2019-6 makes various technical changes to the State's revenue laws as recommended by the Department of Revenue including:

• Updates the reference to the version of the federal Internal Revenue Code (IRC) used to compute North Carolina tax items from February 9, 2018, to January 1, 2019.
• Requires a seller who, in the previous or current calendar year, made gross sales of more than $100,000 sourced to North Carolina or who made 200 or more separate sales transactions sourced to this State to collect and remit North Carolina sales and use tax.

The act became effective March 20, 2019; however, many sections were already effective under the Department's administrative rules.