GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2001
S	1
SENATE BILL 849
     

 
Short Title:	Definition of "Use"-AB.	()	
Sponsors:	Senator Kerr.	
Referred to:	Finance.	
April 4, 2001

A BILL TO BE ENTITLED
AN ACT TO CONFORM THE DEFINITION OF "USE" FOR sales and USE TAX PURPOSES TO THE DEFINITION USED IN NEIGHBORING STATES.

The General Assembly of North Carolina enacts:
SECTION 1.  G.S. 105‑164.3(18) reads as rewritten:
"(18)	"Use" means and includes the exercise of any right or power or dominion whatsoever over tangible personal property by a purchaser thereof and includes, but is not limited to, any withdrawal from storage, distribution, installation, affixation to real or personal property, or exhaustion or consumption of tangible personal property by the owner or purchaser thereof, but shall not include the sale of tangible personal property in the regular course of business."
SECTION 2.  This act becomes effective July 1, 2001.