Bill Text: NC S407 | 2015-2016 | Regular Session | Amended

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Bill Title: Modify Tax on Vapor Products and Use of Tax

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2015-03-25 - Ref To Com On Rules and Operations of the Senate [S407 Detail]

Download: North_Carolina-2015-S407-Amended.html

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GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 2015

S                                                                                                                                                     1

SENATE BILL 407

 

 

Short Title:        Modify Tax on Vapor Products and Use of Tax.		(Public)
Sponsors:	Senator Clark (Primary Sponsor).
Referred to:	Rules and Operations of the Senate.

March 25, 2015

A BILL TO BE ENTITLED

AN ACT to modify the tax on vapor products and the use of the tax on vapor products.

The General Assembly of North Carolina enacts:

SECTION 1.  G.S. 105‑113.35(a1) reads as rewritten:

"(a1)     Tax on Vapor Products. – An excise tax is levied on vapor products at the rate of five cents (5¢) per fluid milliliter of consumable product.three cents (3¢) multiplied by the percent of nicotine concentration in the consumable product and by the volume of the consumable product in milliliters, rounded down to the nearest whole cent. All invoices for vapor products issued by manufacturers must state the amount of nicotine in the consumable product in milliliters.milligrams, the volume of the consumable products in milliliters, and the percent of the nicotine concentration."

SECTION 2.  This act becomes effective July 1, 2015.