NORTH CAROLINA GENERAL ASSEMBLY

1975 SESSION

CHAPTER 143

HOUSE BILL 345

AN ACT TO REQUIRE CERTAIN FOREIGN INSURANCE COMPANIES TO PAY PREMIUM TAXES QUARTERLY.

The General Assembly of North Carolina enacts:

Section 1.  G.S. 105-228.5 is hereby amended by substituting a semicolon for the period at the end of the first paragraph thereof and by adding the following proviso at the end of the first paragraph thereof:

"provided, however, that every company chartered in a state which requires companies chartered in North Carolina to pay taxes quarterly shall pay the taxes levied upon it herein quarterly, said taxes being paid on an estimated basis by the fifteenth day following the close of the first three calendar quarters and the balance by the next following March fifteenth in the same manner hereinafter provided for annual returns."

Sec. 2.  This act shall be effective with respect to taxable years beginning on and after January 1, 1975.

In the General Assembly read three times and ratified, this the 15th day of April, 1975.