CHAPTER 8 ‑ INTANGIBLES TAX DIVISION

SECTION .0100 ‑ ORGANIZATION OF DIVISION

17 NCAC 08 .0101             LOCATION

17 NCAC 08 .0102             GENERAL PURPOSES

17 NCAC 08 .0103             DIVISIONAL ORGANIZATION

History Note:        Authority G.S. 105‑198 to 105‑217; 143B‑10; 143B‑221;

Eff. February 1, 1976;

Amended Eff. July 1, 1977;

Repealed Eff. September 1, 1993.

SECTION .0200 ‑ MONEY ON DEPOSIT IN BANKS

17 NCAC 08 .0201             TAX RATE

17 NCAC 08 .0202             TAX BASE

History Note:        Authority G.S. 105‑199; 105‑211; 105‑262;

Eff. February 1, 1976;

Amended Eff. October 25, 1979; October 15, 1978; July 1, 1977;

Repealed Eff. August 31, 1981.

17 NCAC 08 .0203             PAYMENT OF TAX

History Note:        Authority G.S. 105‑199; 105‑262;

Eff. February 1, 1976;

Amended Eff. March 1, 1982; October 25, 1979; October 15, 1978;

Repealed Eff. December 1, 1985.

17 NCAC 08 .0204             SPECIAL EXCLUSION NOT APPLICABLE

History Note:        Authority G.S. 105‑199; 105‑214; 105‑262;

Eff. February 1, 1976;

Amended Eff. October 30, 1980;

Repealed Eff. August 31, 1981.

17 NCAC 08 .0205             DETERMINING AVERAGE BALANCE

17 NCAC 08 .0206             EXAMPLES OF TAXABLE DEPOSITS

History Note:        Authority G.S. 105‑199; 105‑262;

Eff. February 1, 1976;

Amended Eff. December 1, 1983; August 1, 1982; March 1, 1982; October 30, 1980;

Repealed Eff. December 1, 1985.

17 NCAC 08 .0207             DEPOSITS EXEMPT FROM TAXATION

17 NCAC 08 .0208             DEPOSITS WITH SAVINGS AND LOAN ASSOCIATIONS

History Note:        Authority G.S. 105‑199; 105‑262;

Eff. February 1, 1976;

Amended Eff. October 30, 1980; October 25, 1979; October 15, 1978; September 30, 1977;

Repealed Eff. August 31, 1981.

17 NCAC 08 .0209             CLERKS OF COURT

17 NCAC 08 .0210             REQUIREMENTS OF NORTH CAROLINA DEPOSITORIES

17 NCAC 08 .0211             TAXABLE SITUS OF DEPOSITS OF CORPORATIONS

History Note:        Authority G.S. 105‑199; 105‑206; 105‑212; 105‑262;

Eff. February 1, 1976;

Amended Eff. March 1, 1982; August 31, 1981; October 25, 1979; October 15, 1978;

Repealed Eff. December 1, 1985.

17 NCAC 08 .0212             MONEY MARKET FUNDS

History Note:        Authority G.S. 105‑199; 105‑203; 105‑262;

Eff. March 1, 1982;

Repealed Eff. December 1, 1985.

17 NCAC 08 .0213             EXEMPTIONS

History Note:        Authority G.S. 105‑199; 105‑262;

Eff. December 1, 1983;

Repealed Eff. December 1, 1985.

SECTION .0300 ‑ MONEY ON HAND

17 NCAC 08 .0301             TAX RATE

17 NCAC 08 .0302             TAX BASE

History Note:        Authority G.S. 105‑200; 105‑262;

Eff. February 1, 1976;

Amended Eff. October 25, 1979;

Repealed Eff. August 31, 1981.

17 NCAC 08 .0303             MONEY ON HAND SUBJECT TO TAXATION

17 NCAC 08 .0304             TAXATION OF BANKS AND SAVINGS AND LOANS

17 NCAC 08 .0305             TAXABLE SITUS OF MONEY OF CORPORATIONS

History Note:        Authority G.S. 105‑200; 105‑206; 105‑262;

Eff. February 1, 1976;

Amended Eff. May 1, 1984; March 1, 1982; August 31, 1981; October 25, 1979;

Repealed Eff. December 1, 1985.

17 NCAC 08 .0306             EXEMPTIONS

History Note:        Authority G.S. 105‑200; 105‑262;

Eff. October 25, 1979;

Repealed Eff. December 1, 1985.

SECTION .0400 ‑ ACCOUNTS RECEIVABLE

17 NCAC 08 .0401             TAX RATE

17 NCAC 08 .0402             TAX BASE

History Note:        Authority G.S. 105‑201; 105‑262;

Eff. February 1, 1976;

Repealed Eff. August 31, 1981.

17 NCAC 08 .0403             ACCOUNTS RECEIVABLE SUBJECT TO TAXATION

17 NCAC 08 .0404             DEDUCTIBLE ACCOUNTS PAYABLE

17 NCAC 08 .0405             ACCOUNTS NOT DEDUCTIBLE

17 NCAC 08 .0406             SCHEDULE A: CORPORATIONS AND OTHER BUSINESSES

17 NCAC 08 .0407             TAXABLE SITUS OF ACCOUNTS RECEIVABLE OF CORPORATIONS

History Note:        Authority G.S. 105‑201; 105‑262;

Eff. February 1, 1976;

Amended Eff. October 1, 1993; October 1, 1991; February 1, 1991; August 1, 1986;

Repealed Eff. November 1, 1995.

SECTION .0500 ‑ NOTES: BONDS AND OTHER EVIDENCES OF DEBT

17 NCAC 08 .0501             TAX RATE

17 NCAC 08 .0502             TAX BASE

History Note:        Authority G.S. 105‑202; 105‑262;

Eff. February 1, 1976;

Amended Eff. October 15, 1978;

Repealed Eff. August 31, 1981.

17 NCAC 08 .0503             ACTUAL VALUE

17 NCAC 08 .0504             NOTES: BONDS: ETC. SUBJECT TO TAXATION

History Note:        Authority G.S. 105‑202; 105‑262;

Eff. February 1, 1976;

Amended Eff. October 1, 1993; November 1, 1991; February 1, 1991; August 1, 1986;

Repealed Eff. November 1, 1995.

17 NCAC 08 .0505             EXEMPTIONS

History Note:        Authority G.S. 105‑202; 105‑262;

Eff. February 1, 1976;

Amended Eff. October 30, 1980; October 15, 1978;

Repealed Eff. August 31, 1981.

17 NCAC 08 .0506             DEDUCTIONS FOR LIKE EVIDENCES OF DEBT OWED

History Note:        Authority G.S. 105‑202; 105‑262;

Eff. February 1, 1976;

Amended Eff. October 1, 1993; October 1, 1991; October 25, 1979; October 15, 1978;

Repealed Eff. November 1, 1995.

17 NCAC 08 .0507             DEBTS NOT DEDUCTIBLE

History Note:        Authority G.S. 105‑202; 105‑262;

Eff. February 1, 1976;

Amended Eff. October 30, 1980; July 1, 1977;

Repealed Eff. August 31, 1981.

17 NCAC 08 .0508             SCHEDULE A: CORPORATIONS AND OTHER BUSINESSES

17 NCAC 08 .0509             TAXABLE SITUS OF NOTES: BONDS: ETC. OF CORPORATIONS

History Note:        Authority G.S. 105‑202; 105‑206; 105‑262;

Eff. February 1, 1976;

Amended Eff. October 1, 1993; December 1, 1985; October 23, 1977;

Repealed Eff. November 1, 1995.

SECTION .0600 ‑ SHARES OF STOCK

17 NCAC 08 .0601             TAX RATE

17 NCAC 08 .0602             TAX BASE

History Note:        Authority G.S. 105‑203; 105‑262;

Eff. February 1, 1976;

Repealed Eff. August 31, 1981.

17 NCAC 08 .0603             FAIR MARKET VALUE

17 NCAC 08 .0604             SHARES AND UNITS SUBJECT TO TAXATION

17 NCAC 08 .0605             EXEMPTIONS

17 NCAC 08 .0606             TAXABLE PERCENTAGES

17 NCAC 08 .0607             ALLOWABLE INDEBTEDNESS

17 NCAC 08 .0608             TAXABLE SITUS OF STOCK OWNED BY CORPORATIONS

17 NCAC 08 .0609             SHORT SALES

17 NCAC 08 .0610             BLOCKAGE RULE

History Note:        Authority G.S. 105-201; 105‑203; 105-206; 105‑262;

Eff. February 1, 1976;

Amended Eff. October 1, 1993; February 1, 1991; December 1, 1985; December 1, 1983;

Repealed Eff. November 1, 1995.

SECTION .0700 ‑ BENEFICIAL OR EQUITABLE INTEREST IN FOREIGN TRUSTS

17 NCAC 08 .0701             TAX RATE

History Note:        Authority G.S. 105‑204; 105‑262;

Eff. February 1, 1976;

Repealed Eff. August 31, 1981.

17 NCAC 08 .0702             TAX BASE

17 NCAC 08 .0703             DETERMINATION OF BENEFICIAL OR EQUITABLE INTEREST

17 NCAC 08 .0704             EXEMPTIONS

17 NCAC 08 .0705             SCHEDULE C: FOR COMPUTING VALUE OF BENEFICIAL INTEREST

17 NCAC 08 .0706             TABLES FOR COMPUTING BENEFICIAL INTEREST

History Note:        Authority G.S. 105‑204; 105‑262;

Eff. February 1, 1976;

Amended Eff. October 1, 1993; February 1, 1988; March 1, 1982; August 31, 1981;

Repealed Eff. November 1, 1995.

SECTION .0800 ‑ FUNDS ON DEPOSIT WITH INSURANCE COMPANIES

17 NCAC 08 .0801             TAX RATE

17 NCAC 08 .0802             TAX BASE

17 NCAC 08 .0803             PAYMENT OF TAX

17 NCAC 08 .0804             EXEMPTIONS

History Note:        Authority G.S. 105‑205; 105‑262;

Eff. February 1, 1976;

Amended Eff. October 25, 1979;

Repealed Eff. August 31, 1981.

SECTION .0900 ‑ REQUIREMENTS FOR FILING INTANGIBLES TAX RETURNS

17 NCAC 08 .0901             NORTH CAROLINA RESIDENTS

17 NCAC 08 .0902             NONRESIDENTS

History Note:        Authority G.S. 105‑206; 105‑262;

Eff. February 1, 1976;

Amended Eff. October 1, 1993; March 1, 1982; August 31, 1981; October 30, 1980;

Repealed Eff. November 1, 1995.

17 NCAC 08 .0903             TRUSTS WITH MORE THAN ONE TRUSTEE

History Note:        Authority G.S. 105‑206; 105‑262;

Eff. October 25, 1979;

Amended Eff. October 1, 1993;

Repealed Eff. November 1, 1995.

17 NCAC 08 .0904             COMMON TRUST FUNDS OF NORTH CAROLINA BANKS

History Note:        Authority G.S. 105‑206; 105‑262;

Eff. November 28, 1980;

Amended Eff. October 1, 1993; December 1, 1985;

Repealed Eff. November 1, 1995.

SECTION .1000 ‑ VALUATION DATES

17 NCAC 08 .1001             IN GENERAL

History Note:        Authority G.S. 105‑199 to 105‑205; 105‑262;

Eff. February 1, 1976;

Repealed Eff. August 31, 1981.

17 NCAC 08 .1002             NEWLY CREATED BUSINESSES: ESTATES: ETC.

17 NCAC 08 .1003             LIQUIDATED BUSINESSES: CLOSED ESTATES: ETC.

History Note:        Authority G.S. 105‑199 to 105‑205; 105‑262;

Eff. February 1, 1976;

Amended Eff. October 1, 1993; February 1, 1988; December 1, 1985;

Repealed Eff. November 1, 1995.

SECTION .1100 ‑ DUE DATE OF RETURNS: EXTENSIONS: PAYMENT OF TAX

17 NCAC 08 .1101             DUE DATE OF RETURNS

History Note:        Authority G.S. 105‑206; 105‑262;

Eff. February 1, 1976;

Repealed Eff. August 31, 1981.

17 NCAC 08 .1102             EXTENSION OF TIME FOR FILING RETURNS

17 NCAC 08 .1103             PAYMENT OF TAX

History Note:        Authority G.S. 105‑206; 105‑262; 105‑263;

Eff. February 1, 1976;

Amended Eff. October 1, 1993; August 31, 1981;

Repealed Eff. November 1, 1995.

SECTION .1200 ‑ FORMS FOR FILING RETURNS AND REPORTS

17 NCAC 08 .1201             INTANGIBLES TAX RETURN: FORM H‑801

History Note:        Authority G.S. 105‑206; 105‑262;

Eff. February 1, 1976;

Amended Eff. October 1, 1993; December 1, 1985; July 1, 1977;

Repealed Eff. November 1, 1995.

17 NCAC 08 .1202             ANNUAL REPORT OF MONEY ON DEPOSIT: FORM H‑803

17 NCAC 08 .1203             ANNUAL INSURANCE REPORT: FORM H‑804

History Note:        Authority G.S. 105‑206; 105‑262;

Eff. February 1, 1976;

Amended Eff. March 1, 1982; October 25, 1979; October 15, 1978;

Repealed Eff. December 1, 1985.

SECTION .1300 ‑ INFORMATION FROM THE SOURCE

17 NCAC 08 .1301             INFORMATION AT THE SOURCE RETURNS: FORM H‑809

17 NCAC 08 .1302             REQUIREMENTS OF INVESTMENT BROKERS

History Note:        Authority G.S. 105-209; 105‑251; 105‑262;

Eff. February 1, 1976;

Amended Eff. October 1, 1993; July 1, 1977;

Repealed Eff. November 1, 1995.

SECTION .1400 ‑ CONVERSION OF INTANGIBLE PROPERTY AND DISALLOWANCE OF INDEBTEDNESS

17 NCAC 08 .1401             CONVERSION TO EVADE TAXATION

17 NCAC 08 .1402             INDEBTEDNESS FOR PURPOSE OF REDUCING TAX DUE

History Note:        Authority G.S. 105‑211; 105‑262;

Eff. February 1, 1976;

Repealed Eff. August 31, 1981.

SECTION .1500 ‑ EXEMPTIONS

17 NCAC 08 .1501             CHARITABLE: ETC. ORGANIZATIONS AND TRUSTS

History Note:        Authority G.S. 105‑212; 105‑262;

Eff. February 1, 1976;

Amended Eff. October 1, 1993; November 1, 1984; August 31, 1981; October 25, 1979;

Repealed Eff. November 1, 1995.

17 NCAC 08 .1502             PENSION: PROFIT‑SHARING: STOCK BONUS OR ANNUITY TRUSTS

17 NCAC 08 .1503             TRUSTS CREATED UNDER THE KEOGH ACT

17 NCAC 08 .1504             TRUSTS FOR MAINTENANCE AND CARE OF PLACES OF BURIAL

History Note:        Authority G.S. 105‑212; 105‑262;

Eff. February 1, 1976;

Repealed Eff. August 31, 1981.

17 NCAC 08 .1505             DOMESTIC TRUSTS FOR NONRESIDENTS OR EXEMPT ORGANIZATIONS

History Note:        Authority G.S. 105‑212; 105‑262;

Eff. February 1, 1976;

Amended Eff. October 1, 1993; August 1, 1986; November 1, 1984;

Repealed Eff. November 1, 1995.

17 NCAC 08 .1506             CREDIT UNIONS

17 NCAC 08 .1507             SAVINGS AND LOAN ASSOCIATIONS

17 NCAC 08 .1508             INSURANCE COMPANIES

17 NCAC 08 .1509             EXEMPT INVESTMENT COMPANIES AND REAL ESTATE TRUSTS

History Note:        Authority G.S. 105‑212; 105‑262;

Eff. February 1, 1976;

Amended Eff. October 25, 1979; October 15, 1978; September 30, 1977;

Repealed Eff. August 31, 1981.

17 NCAC 08 .1510             INDIVIDUAL RETIREMENT ARRANGEMENTS (IRA)

History Note:        Authority G.S. 105‑212; 105‑262;

Eff. September 30, 1977;

Repealed Eff. August 31, 1981.

17 NCAC 08 .1511             CHEROKEE INDIANS

History Note:        Authority U. S. Constitution, Art. I, Sec.8(3); Art. VI(2);

Eff. March 1, 1982;

Repealed Eff. November 1, 1995.

SECTION .1600 ‑ ALLOCATION OF TAX TO NORTH CAROLINA COUNTIES

17 NCAC 08 .1601             IN GENERAL

17 NCAC 08 .1602             ALLOCATION BY BUSINESSES TO MORE THAN ONE COUNTY

17 NCAC 08 .1603             ALLOCATION BY OTHER TAXPAYERS TO MORE THAN ONE COUNTY

17 NCAC 08 .1604             SCHEDULE B: ALLOCATION OF INTANGIBLE PERSONAL PROPERTY TAX

History Note:        Authority G.S. 105‑213; 105‑262;

Eff. February 1, 1976;

Amended Eff. October 1, 1993; December 1, 1985;

Repealed Eff. November 1, 1995.

SECTION .1700 ‑ DISTRIBUTION OF INTANGIBLES TAX

17 NCAC 08 .1701             BASIS OF DISTRIBUTION

17 NCAC 08 .1702             DUTIES OF MUNICIPAL AND COUNTY OFFICIALS

17 NCAC 08 .1703             DISPOSITION OF INTANGIBLES TAX

History Note:        Authority G.S. 105‑213; 105‑262;

Eff. February 1, 1976;

Repealed Eff. August 31, 1981.

SECTION .1800 ‑ SPECIAL EXCLUSION FROM FILING RETURNS

17 NCAC 08 .1801             IN GENERAL

17 NCAC 08 .1802             JOINTLY OWNED PROPERTY

History Note:        Authority G.S. 105‑214; 105‑262;

Eff. February 1, 1976;

Amended Eff. February 1, 1988; December 1, 1985; August 31, 1981; October 30, 1980;

Repealed Eff. November 1, 1995.