*Red font in the legislation and regulation indicates changes from previous reporting

NORTH CAROLINA -- regarding state tax exemptions and grace periods on sales tax collection that apply to waterslides and pools.

Issue: SB 715 – tax legislation

Affects:  Those who provide service contracts for pools and those with public use waterslides.

Send comments to: Jennifer Hatfield, jhatfield@apsp.org

Bill Summary: The amended measure exempts amusement rides, including waterslidesfrom taxes imposed on entertainment activities (page 14-15).  The measure also extends the grace period for individuals who failed to collect sales tax on the retail sale of a service contract for a pool, a fish tank, or similar aquatic feature on or after January 1, 2017, and prior to January 1, 2018, provided the person paid tax on any purchases used to fulfill the service contract. The new grace period is January 1, 2017 to January 1, 2019 (page 20).

Status:  Introduced May 16. Referred to Senate Finance Committee; hearing held on May 17 where the bill was amended and passed the committee. A hearing was then scheduled for May 21 in the Senate Rules and Operations Committee.

View proposed legislation: Current version (5/17/2018):  https://www.ncleg.net/Sessions/2017/Bills/Senate/PDF/S715v2.pdf