§ 105-127. When franchise or privilege taxes payable. - North Carolina Statutes

§ 105‑127.  Whenfranchise or privilege taxes payable.

(a)        Every corporation,domestic or foreign, from which a report is required by law to be made to theSecretary of Revenue, shall, unless otherwise provided, pay to said Secretaryannually the franchise tax as required by G.S. 105‑122.

(b)        Repealed by SessionLaws 1998‑98, s. 78, effective August 14, 1998.

(c)        It shall be theduty of the treasurer or other officer having charge of any such corporation,domestic or foreign, upon which a tax is herein imposed, to transmit the amountof the tax due to the Secretary of Revenue within the time provided by law forpayment of same.

(d),       (e) Repealed bySession Laws 2002‑72, s. 11, effective August 12, 2002.

(f)         After the end ofthe income year in which a domestic corporation is dissolved pursuant toArticle 14 of Chapter 55 of the General Statutes, the corporation is no longersubject to the tax levied in this Article unless the Secretary of Revenue findsthat the corporation has engaged in business activities in this State notappropriate to winding up and liquidating its business and affairs. (1939, c. 158, s. 215; 1973,c. 476, s. 193; 1991, c. 30, s. 7; 1993, c. 485, s. 6; 1998‑98, s. 78;2002‑72, s. 11.)