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Regulatory News and Notices
September 30, 2008
Local Sales and Use Tax Increase Effective October 1, 2008 - Cumberland and Haywood Counties
This is a special NCADA Dealer Alert reminder for dealers in Cumberland and Haywood counties ONLY. Effective October 1, 2008, the combined state and local sales and use tax for these counties will increase by 0.25% to a total of 7%.
This increase is the result of multiple state and local actions and can be somewhat confusing. Pursuant to legislation enacted in 2007, the general State rate of sales and use tax will increase from 4.25% to 4.5% effective October 1, 2008. Also, the third one-half percent (0.5%) local sales and use tax will decrease to one-quarter percent (0.25%) on October 1, 2008. Although complicated, these actions actually have the result of keeping the combined state and local sales and use tax at 6.75% for most counties throughout the state.
However, pursuant to legislation enacted in the 2007 legislative session, all counties were given the authority to levy an additional 0.25% sales and use tax after an affirmative referendum vote of the county’s residents. Cumberland and Haywood Counties have adopted resolutions to levy this additional tax increase effective October 1, 2008. These actions have the impact of increasing the combined state and local sales and use tax for these two counties to 7% effective, October 1, 2008.
Please note, this increase impacts only the taxation of tangible personal property and other transactions that are subject to the general State rate of sales and use tax. This does not impact the current 3% Highway Use Tax applicable to the sale of motor vehicles.
Please see the North Carolina Department of Revenue Notice below for more information on this increase.
The above information is provided for information purposes only and should not be construed as legal advice or a legal opinion on specific facts or circumstances. Please consult with legal counsel concerning specific factual situations before acting on this information.
