§ 105-102.3. Banks. - North Carolina Statutes

§105‑102.3.  Banks.

There is imposed upon everybank or banking association, including each national banking association, thatis operating in this State as a commercial bank, an industrial bank, a savingsbank created other than under Chapter 54B or 54C of the General Statutes or theHome Owners' Loan Act of 1933 (12 U.S.C. §§ 1461‑68), a trust company, orany combination of such facilities or services, and whether such bank orbanking association, hereinafter to be referred to as a bank or banks, is organized,under the laws of the United States or the laws of North Carolina, in thecorporate form or in some other form of business organization, an annualprivilege tax. A report and the privilege tax are due by the first day of Julyof each year on forms provided by the Secretary. The tax rate is thirty dollars($30.00) for each one million dollars ($1,000,000) or fractional part thereofof total assets held as provided in this section. The assets upon which the taxis levied shall be determined by averaging the total assets shown in the fourquarterly call reports of condition (consolidating domestic subsidiaries) forthe preceding calendar year as required by bank regulatory authorities. If abank has been in operation less than a calendar year, then the assets uponwhich the tax is levied shall be determined by multiplying the average of thetotal assets by a fraction, the denominator of which is 365 and the numeratorof which is the number of days of operation. If a bank operates aninternational banking facility, as defined in G.S. 105‑130.5(b)(13), theassets upon which the tax is levied shall be reduced by the average amount forthe taxable year of all assets of the international banking facility which areemployed outside the United States, as computed pursuant to G.S. 105‑130.5(b)(13)c.For an out‑of‑state bank with one or more branches in this State,or for an in‑state bank with one or more branches outside this State, theassets of the out‑of‑state bank or of the in‑state bank uponwhich the tax is levied shall be reduced by the average amount for the taxableyear of all assets of the out‑of‑state bank or of the in‑statebank which are employed outside this State. The tax imposed in this sectionshall be for the privilege of carrying on the businesses herein defined on astatewide basis regardless of the number of places or locations of businesswithin the State. Counties and cities may not levy a license or privilege taxon the businesses taxed under this section, nor on the business of an internationalbanking facility as defined in subdivision (b)(13) of G.S. 105‑130.5. (1973,c. 1053, s. 7; 1981, c. 855, s. 2; 1985 (Reg. Sess., 1986), c. 985, s. 4; 1995,c. 322, s. 2; 1998‑95, s. 10; 1998‑98, s. 1(h).)