N.C. Gen. Stat. § 105-449.40
Secretary may require bond
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
(1) Authority. - The Secretary may require a motor carrier to furnish a bond when any of the following occurs: The motor carrier fails to file a return within the time required by this Article.
(1) Authority. — The Secretary may require a motor carrier to furnish a bond when any of the following occurs: The motor carrier fails to file a return within the time required by this Article.
(2) The motor carrier fails to pay a tax when due under this Article.
(2) The motor carrier fails to pay a tax when due under this Article.
(3) After auditing the motor carrier's records, the Secretary determines that a bond is needed to protect the State from loss in collecting the tax due under this Article.
(3) After auditing the motor carrier’s records, the Secretary determines that a bond is needed to protect the State from loss in collecting the tax due under this Article.
(4) Amount. - A bond required of a motor carrier under this section may not be more than the larger of the following amounts: Five hundred dollars ($500.00).
(4) Amount. — A bond required of a motor carrier under this section may not be more than the larger of the following amounts: Five hundred dollars ($500.00).
(5) Four times the motor carrier’s average tax liability or refund for a reporting period.
(5) Four times the motor carrier’s average tax liability or refund for a reporting period. A bond must be in the form required by the Secretary.
A bond must be in the form required by the Secretary.
History
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.