N.C. Gen. Stat. § 142-92
Tax exemption
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
Special indebtedness shall at all times be free from taxation by the State or any political subdivision or any of their agencies, excepting income taxes on the gain from the transfer of the indebtedness; and franchise taxes. The interest component of any payments made by the State under special indebtedness, including the interest component of any certificates of participation, is not subject to taxation as to income.
Special indebtedness shall at all times be free from taxation by the State or any political subdivision or any of their agencies, excepting income taxes on the gain from the transfer of the indebtedness; and franchise taxes. The interest component of any payments made by the State under special indebtedness, including the interest component of any certificates of participation, is not subject to taxation as to income.
History
(2003-284, s. 46.2; 2003-314, s. 1; 2004-203, s. 79; 2015-264, s. 16(h).)
Effect of Amendments. - Session Laws 2015-264, s. 16(h), effective October 1, 2015, deleted "estate, inheritance, and gift taxes" preceding "income taxes on the gain" near the middle of the first sentence.
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.