NC S584

Reinstates a merchant's discount allowing retailers to deduct 1-3% from retail sales and use taxes paid, capped at $500,000 or $5,000 respectively.

Denies the discount to retailers who fail to pay full tax when due, commit fraud or evasion, or fail to maintain accurate records.

Excludes electricity, piped natural gas, telecommunications, and video programming services from the merchant's discount.

Clarifies that the merchant's discount does not apply to specific tax articles including motor vehicle, tire, white goods, dry-cleaning solvent, and other specialized state taxes.

Becomes effective July 1, 2021, and applies to returns filed on or after that date.