North Carolina S62 exempts certain nonprofit entities and fundraising events from sales tax.

North Carolina S62 provides a sales tax exemption for certain nonprofit entities and fundraising events. The bill exempts tangible personal property, digital property, and services used by nonprofit hospitals, organizations exempt from income tax under section 501(c)(3) of the Code, and other specified entities. It also exempts certain fundraising events held by nonprofits. The Secretary must assign a sales tax exemption number to eligible nonprofits. Misuse of exemption certificates or affidavits of capital improvement results in penalties.

North Carolina S62 exempts certain nonprofit entities and fundraising events from sales tax.

North Carolina S62 provides a sales tax exemption for certain nonprofit entities and fundraising events. The bill exempts tangible personal property, digital property, and services used by nonprofit hospitals, organizations exempt from income tax under section 501(c)(3) of the Code, and other specified entities. It also exempts certain fundraising events held by nonprofits. The Secretary must assign a sales tax exemption number to eligible nonprofits. Misuse of exemption certificates or affidavits of capital improvement results in penalties.