Winston-Salem Town Hall Meeting
NCADA’s Annual Town Hall Tour provides dealers an opportunity to discuss important industry issues with their peers.
Read more...Boone Town Hall Meeting
NCADA’s Annual Town Hall Tour provides dealers an opportunity to discuss important industry issues with their peers.
Read more...NCADA Young Dealers Meeting
NCADA’s Young Dealers Group is comprised of industry professionals who share a passion for the family business. They represent second, third and fourth generation family dealerships from across North Carolina. This group meets quarterly for networking, leadership development and training.
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Regulatory News and Notices
April 1, 2008
Local Sales and Use Tax Increase Effective April 1, 2008 - Select Counties
This is a special NCADA Dealer Alert reminder for dealers in Alexander, Catawba, Martin, Pitt, Sampson and Surry counties ONLY.
Effective April 1, 2008, the local sales and use tax rate for these counties will increase by 0.25% to 2.75%. Along with the state sales and use tax of 4.25%, the combined state and local sales and use tax rate for these counties will be 7%.
Pursuant to legislation enacted in the 2007 legislative session, all counties were given the authority to levy an additional 0.25% sales and use tax after an affirmative referendum vote of the county’s residents. The above counties are the first to levy this additional tax increase.
Please note, this increase impacts only the taxation of tangible personal property and other transactions that are subject to the general State rate of sales and use tax. This does not impact the current 3% Highway Use Tax applicable to the sale of motor vehicles.
More information on this local sales and use tax increase is included in a North Carolina Department of Revenue Notice which can be downloaded below.
The above information is provided for information purposes only and should not be construed as legal advice or a legal opinion on specific facts or circumstances. Please consult with legal counsel concerning specific factual situations before acting on this information.
