NORTH CAROLINA GENERAL ASSEMBLY
1967 SESSION
CHAPTER 1272
HOUSE BILL 1369
AN ACT TO AMEND G.S. 105-116 AND G.S. 105-120 TO REVISE THE ALLOCATION FORMULA FOR FRANCHISE TAXES.
The General Assembly of North Carolina do enact:
Section 1. Effective from and after June 30, 1969, subsection (g) of G.S. 105-116 is hereby further amended by striking out of the fifth, eighth, and tenth lines thereof the words and figures "three-fourths of one per cent (3/4 of 1%)" and by inserting in lieu thereof the words and figures "two per cent (2%)".
Sec. 2. Effective from and after June 30, 1969, subsection (d) of G.S. 105-120 is hereby further amended by striking out of the fourth line thereof the words and figures "three-fourths of one per cent (3/4 of 1%) and by inserting in lieu thereof the words and figures "two per cent (2%)".
Sec. 3. Effective from and after June 30, 1970, subsection (g) of G.S. 105-116 is hereby further amended by striking out of the fifth, eighth, and tenth lines thereof the words and figures "two per cent (2%)" and by inserting in lieu thereof the words and figures "three per cent (3%)".
Sec. 4. Effective from and after June 30, 1970, G.S. 105-120 is hereby further amended by striking out of the fourth line thereof the words and figures "two per cent (2%)" and by inserting in lieu thereof the words and figures "three per cent (3%)".
Sec. 5. All laws and clauses of laws in conflict with this Act are hereby repealed.
Sec. 6. Subject to the provisions of Section 1, 2, 3, and 4 hereof, this Act shall be effective upon its ratification.
In the General Assembly read three times and ratified, this the 6th day of July, 1967.