§ 105-164.21A. Deduction for municipalities that sell electric power. - North Carolina Statutes

§ 105‑164.21A. Deduction for municipalities that sell electric power.

A municipality that pays theretail sales tax imposed by this Article on electricity may deduct from theamount of tax payable by the municipality an amount equal to three percent (3%)of the difference between its gross receipts from sales of electricity for thepreceding reporting period and the amount paid by the municipality forpurchased power and related services during that reporting period. (1983(Reg. Sess., 1984), c. 1097, s. 12; 1989 (Reg. Sess., 1990), c. 945, s. 2.)