17 NCAC 07B .4402. ROYALTIES

Latest version.

Royalties paid, or agreed to be paid, either on a lump sum or production basis, for tangible personal property used in this state are rentals subject to the applicable statutory state and local sales or use tax.

History Note: Authority G.S. 105‑164.4; 105‑164.6; 105‑262; Article 39; Article 40; Article 42; Article 43; Article 44; Article 46;

Eff. February 1, 1976;

Amended Eff. May 1, 2009; October 1, 1993; October 1, 1991.

                    
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