04 NCAC 24D .0402         ELECTION TO REIMBURSE IN LIEU OF CONTRIBUTIONS

(a)  A new qualifying employer under G.S. 96-9.6 electing to pay reimbursements for benefits, rather than contributions, shall make the election by writing a letter stating their election to DES's Tax Administration Section as provided in 04 NCAC 24A .0104(x) within 30 days after the employer receives written notification from the Division that it is eligible to make an election as defined under G.S. 96-9.6.

(b)  A qualifying employer under G.S. 96-9.6 electing to pay reimbursements for benefits, rather than contributions, shall within 30 days before the January 1 effective date, make the election by sending a letter stating their election to DES's Tax Administration Section pursuant to 04 NCAC 24A .0104(x).

History Note:        Authority G.S. 96-4; 96-9.6; 96-9.8; 26 U.S.C. 3309;

Eff. July 1, 2015;

Amended Eff. July 1, 2018.