NC S721

Eliminates the 2% discount previously allowed for tobacco and alcohol distributors who filed timely reports and made timely payments under G.S. 105-113.21(a1).

Strikes the provision that allowed distributors to deduct a 2% discount from amounts due with their reports, which had covered expenses for preparing required records and furnishing bonds.

Repeals G.S. 105-113.85 in its entirety, which contained related discount provisions.

Becomes effective July 1, 2011.