NC H888

Caps sales tax refunds for nonprofit entities at 100% of the first $1,000,000 requested annually and 25% of amounts exceeding $1,000,000.

Reinstates the sales and use tax refund for local school administrative units and joint agencies created for school food service purchases.

Reenacts previously repealed provisions in G.S. 105-164.14(c)(2b) and (2c) related to sales tax refunds for local school administrative units.

Repeals G.S. 105-164.44H and removes local authority to allow exemptions or refunds not permitted under state sales and use tax law.

Becomes effective July 1, 2011, for sales and use taxes paid on or after that date.