§ 105-330.6. Motor vehicle tax year; transfer of plates; surrender of plates. - North Carolina Statutes

§ 105‑330.6.  Motorvehicle tax year; transfer of plates; surrender of plates.

(a)        Tax Year. – The taxyear for a classified motor vehicle listed pursuant to G.S. 105‑330.3(a)(1)and registered under the staggered system begins on the first day of the firstmonth following the date on which the former registration expires or the newregistration is applied for and ends on the last day of the month in which thecurrent registration expires. The tax year for a classified motor vehiclelisted pursuant to G.S. 105‑330.3(a)(1) and registered under the annualsystem begins on the first day of the first month following the date on whichthe registration expires or the new registration is applied for and ends thefollowing December 31. The tax year for a classified motor vehicle listedpursuant to G.S. 105‑330.3(a)(2) is the fiscal year that opens in thecalendar year in which the vehicle is required to be listed.

(a1)      Change in Tax Year.– If the tax year for a classified motor vehicle changes because of a change inits registration for a reason other than the transfer of its registrationplates to another classified motor vehicle pursuant to G.S. 20‑64, andthe new tax year begins before the expiration of the vehicle's original taxyear, the taxpayer may receive a credit, in the form of a release, against thetaxes on the vehicle for the new tax year. The amount of the credit is equal toa proportion of the taxes paid on the vehicle for the original tax year. Theproportion is the number of full calendar months remaining in the original taxyear as of the first day of the new tax year, divided by the number of monthsin the original tax year. To obtain the credit allowed in this subsection, thetaxpayer must apply within 30 days after the taxes for the new tax year are dueand must provide the county tax collector information establishing the originaltax year of the vehicle, the amount of taxes paid on the vehicle for that year,and the reason for the change in registration.

(b)        Transfer of Plates.– If the owner of a classified motor vehicle listed pursuant to G.S. 105‑330.3(a)(1)transfers the registration plates from the listed vehicle to another classifiedmotor vehicle pursuant to G.S. 20‑64 during the listed vehicle's taxyear, the vehicle to which the plates are transferred is not required to belisted or taxed until the current registration expires or is renewed.

(c)        Surrender ofPlates. – If the owner of a classified motor vehicle listed pursuant to G.S.105‑330.3(a)(1) either transfers the motor vehicle to a new owner ormoves out‑of‑state and registers the vehicle in anotherjurisdiction, and the owner surrenders the registration plates from the listedvehicle to the Division of Motor Vehicles, then the owner may apply for arelease or refund of taxes on the vehicle for any full calendar monthsremaining in the vehicle's tax year after the date of surrender. To apply for arelease or refund, the owner must present to the county tax collector withinone year after surrendering the plates the receipt received from the Divisionof Motor Vehicles accepting surrender of the registration plates. The countytax collector shall then multiply the amount of the taxes for the tax year onthe vehicle by a fraction, the denominator of which is the number of months inthe tax year and the numerator of which is the number of full calendar monthsremaining in the vehicle's tax year after the date of surrender of theregistration plates. The product of the multiplication is the amount of taxesto be released or refunded. If the taxes have not been paid at the date ofapplication, the county tax collector shall make a release of the proratedtaxes and credit the owner's tax notice with the amount of the release. If thetaxes have been paid at the date of application, the county tax collector shalldirect an order for a refund of the prorated taxes to the county financeofficer, and the finance officer shall issue a refund to the vehicle owner. (1991, c. 624, s. 1; 1991(Reg. Sess., 1992), c. 961, s. 7; 1995, c. 510, s. 4; 1998‑139, s. 3;2001‑406, s. 1; 2001‑497, s. 1(a); 2005‑313, s. 9.)