§ 105-304. Place for listing tangible personal property. - North Carolina Statutes

§ 105‑304.  Place forlisting tangible personal property.

(a)        ListingInstructions. – This section applies to all taxable tangible personal propertythat has a tax situs in this State and that is not required by this Subchapterto be appraised originally by the Department of Revenue. The place in thisState at which this property is taxable is determined according to the rulesprovided in this section. The person whose duty it is to list property mustlist it in the county in which the place of taxation is located, indicating onthe abstract the information required by G.S. 105‑309(d). If the place oftaxation lies within a city or town that requires separate listing under G.S.105‑326(a), the person whose duty it is to list must also list theproperty for taxation in the city or town.

(a1)      Electronic Listing.– The board of county commissioners may, by resolution, provide for electroniclisting of personal property in accordance with procedures prescribed by theboard. If the board of county commissioners allows electronic listing ofpersonal property, the assessor must publish this information, including thetimetable and procedures for electronic listing, in the notice required by G.S.105‑296(c).

(b)        Definitions. – Thefollowing definitions apply in this section:

(1)        Situated. – More orless permanently located.

(2)        Business premises. –The term includes, for purposes of illustration, the following: Store, mill,dockyard, piling ground, shop, office, mine, farm, factory, warehouse, rentalreal estate, place for the sale of property (including the premises of aconsignee), and place for storage (including a public warehouse).

(3)        Electronic. – Definedin G.S. 66‑312.

(c)        General Rule. – Exceptas otherwise provided in subsections (d) through (h) of this section, tangiblepersonal property is taxable at the residence of the owner. For purposes ofthis section:

(1)        The residence of anindividual person who has two or more places in this State at which theindividual occasionally dwells is the place at which the individual dwelt forthe longest period of time during the calendar year immediately preceding thedate as of which property is to be listed for taxation.

(2)        The residence of adomestic or foreign taxpayer other than an individual person is the place at whichits principal North Carolina place of business is located.

(d)        Property ofTaxpayers With No Fixed Residence in This State. –

(1)        Tangible personalproperty owned by an individual nonresident of this State is taxable at theplace in this State at which the property is situated.

(2)        Tangible personalproperty owned by a domestic or foreign taxpayer (other than an individualperson) that has no principal office in this State is taxable at the place inthis State at which the property is situated.

(e)        Farm Products. – Farmproducts produced in this State, if owned by their producer, are taxable at theplace in this State at which they were produced.

(f)         Property Situatedor Commonly Used at Premises Other Than Owner's Residence. – Subject to theprovisions of subsection (e) of this section:

(1)        Tangible personalproperty situated at or commonly used in connection with a temporary orseasonal dwelling owned or leased by the owner of the personal property istaxable at the place at which the temporary or seasonal dwelling is situated.

(2)        Tangible personalproperty situated at or commonly used in connection with a business premiseshired, occupied, or used by the owner of the personal property (or by theowner's agent or employee) is taxable at the place at which the businesspremises is situated. Tangible personal property that may be used by the publicgenerally or that is used to sell or vend merchandise to the public fallswithin the provisions of this subdivision.

(3)        Tangible personalproperty situated at or commonly used in connection with a premise owned,hired, occupied, or used by a person who is in possession of the personalproperty under a business agreement with the property's owner is taxable at theplace at which the possessor's premise is situated. For purposes of thissubdivision, the term "business agreement" means a commercial lease,a bailment for hire, a consignment, or a similar business arrangement.

(4)        In applying theprovisions of subdivisions (1), (2), and (3) of this subsection, the temporaryabsence of tangible personal property from the place at which it is taxableunder one of those subdivisions on the day as of which property is to be listeddoes not affect the application of the rules established in those subdivisions.The presence of tangible personal property at a location specified insubdivision (1), (2), or (3) of this subsection on the day as of which propertyis to be listed is prima facie evidence that it is situated at or commonly usedin connection with that location.

(g)        Decedents. – Thetangible personal property of a decedent whose estate is in the process ofadministration or has not been distributed is taxable at the place at which itwould be taxable if the decedent were still alive and still residing at theplace at which the decedent resided at the time of death.

(h)        BeneficialOwnership. – Tangible personal property within the jurisdiction of the Stateheld by a resident or nonresident trustee, guardian, or other fiduciary havinglegal title to the property is taxable in accordance with the following rules:

(1)        If any beneficiaryis a resident of the State, an amount representing that beneficiary's portionof the property is taxable at the place at which it would be taxable if thebeneficiary owned that portion.

(2)        If any beneficiaryis a nonresident of the State, an amount representing that beneficiary'sportion of the property is taxable at the place at which it would be taxable ifthe fiduciary were the beneficial owner of the property. (1939, c. 310, s. 800; 1947,c. 836; 1951, c. 1102, s. 1; 1955, c. 1012, ss. 2, 3; 1969, c. 940; 1971, c.806, s. 1; 1973, c. 476, s. 193; c. 1180; 2001‑279, s. 1; 2006‑30,s. 1.)