GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1997

S	1 

SENATE BILL 784

Short Title:  Conform Tax Extension Rules.	(Public)

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Sponsors: Senators Webster, Hartsell, Kerr; Allran, Ballantine, Blust, Carpenter, Clark, Cochrane, East, Forrester, Garwood, Horton, Hoyle, Kincaid, Ledbetter, McDaniel, Page, Reeves, and Shaw of Guilford.

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Referred to:  Finance.

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April 10, 1997

A BILL TO BE ENTITLED
AN ACT TO PROVIDE TAX RELIEF AND SIMPLIFICATION BY CONFORMING STATE TAX LAW TO THE FEDERAL RULE THAT GRANTS A FILING EXTENSION EVEN IF THE REQUEST IS NOT ACCOMPANIED BY PAYMENT.
The General Assembly of North Carolina enacts:
Section 1.  G. S. 105-263 reads as rewritten:
"§ 105-263.  Extensions of time for filing a report or return.
The Secretary may extend the time in which a person must file a report or return with the Secretary. To obtain an extension of time for filing a report or return, a person must comply with any application requirement set by the Secretary. An extension of time for filing a franchise tax return, an income tax return, or a gift tax return does not extend the time for paying the tax due or the time when a penalty attaches for failure to pay the tax. An extension of time for filing
a report or any return other than a franchise tax return, an income tax return, or a gift tax return extends the time for paying the tax due and the time when a penalty attaches for failure to pay the tax. When an extension of time for filing a report or return extends the time for paying the tax expected to be due with the report or return, interest, at the rate established pursuant to G.S. 105-241.1(i), accrues on the tax due from the original due date of the report or return to the date the tax is paid."
Section 2.  The Secretary of Revenue shall draw from collections under Article 4 of Chapter 105 of the General Statutes for the 1997-98 fiscal year the one-time computer programming costs of implementing this act.
Section 3.  This act becomes effective January 1, 1998, and applies to returns due on or after that date.