NC H335

Repeals G.S. 105-41, which established privilege taxes on certain professions and businesses in North Carolina.

Removes references to the repealed statute from G.S. 53-191, G.S. 93-12(12), and G.S. 105-88(b) to eliminate privilege tax requirements for banks, trust companies, savings and loan associations, credit unions, and real estate mortgage brokers.

Clarifies that real estate mortgage brokers are exempt from privilege license requirements when they advance their own funds and subsequently arrange to sell or discount obligations within specified timeframes or engage in temporary financing for permanent-type loans.

Becomes effective for taxes imposed for taxable years beginning on or after July 1, 2024.