§ 105-449.93. Percentage discount for licensed distributors and some licensed importers. - North Carolina Statutes

§ 105‑449.93. Percentage discount for licensed distributors and some licensed importers.

(a)        Repealed by SessionLaws 2006‑162, s. 14(d), effective January 1, 2007, and applicable tomotor fuel purchased on or after that date.

(b)        PercentageDiscount. – A licensed distributor that pays the tax due a supplier by the datethe supplier must pay the tax to the State may deduct from the amount due adiscount of one percent (1%) of the amount of tax payable. A licensed importerthat removes motor fuel from a terminal rack of a permissive or an electivesupplier and that pays the tax due the supplier by the date the supplier mustpay the tax to the State may deduct from the amount due a discount of the sameamount allowed a licensed distributor. The discount covers the expense offurnishing a bond and losses due to shrinkage or evaporation. A supplier maynot directly or indirectly deny this discount to a licensed distributor orlicensed importer that pays the tax due the supplier by the date the suppliermust pay the tax to the State. (1995, c. 390, s. 3; 1995 (Reg. Sess., 1996), c. 647,s. 27; 2006‑162, s. 14(d).)