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October 20, 2008 (Regular Meeting) <br />CITY OE KANNAPOLIS $1,583.06 <br />CITY OE LOCUST $0.00 <br />CITY OF STANEIELD $0.00 <br />TOWN OF HARRISBURG $0.00 <br />TOWN OF MIDLAND $0.00 <br />TOWN OF MT. PLEASANT $0.00 <br />ALLEN F/D $0.00 <br />COLD WATER E/D $0.00 <br />ENOCHVILLE F/D $0.00 <br />FLOWES STORE E/D $1.94 <br />GEORGEVILLE F/D $0.00 <br />GOLD HILL F/D $0.00 <br />HARRISBURG E/D $8.58 <br />JACKSON PARK F/D $0.00 <br />MIDLAND F/D $0.00 <br />MT. MITCHELL F/D $611.73 <br />MT. PLEASANT F/D $0.00 <br />NORTHEAST F/D $0.00 <br />ODELL F/D $0.00 <br />POPLAR TENT F/D $0.00 <br />RICHFIELD F/D $0.00 <br />RIMER F/D $0.00 <br />WZNECOFF F/D $0.00 <br />- Resolution Levying a Tax <br />ease or Rental of Heavy Equ, <br />Page 1006 <br />The State Legislature has exempted from the tax base taxes levied on <br />heavy equipment that is subject to short-term lease or rental [NCGS 105- <br />275(42a)]. They also passed legislation to allow counties, by resolution, to <br />impose a gross receipt tax equal to 1.2 percent of the gross receipts from <br />the short-term lease or rental of this equipment. To avoid losing the tax on <br />this equipment the following resolution must be adopted in October so that we <br />may start collecting the tax in January 2009. <br />UPON MOTION of Commissioner Carruth, seconded by Vice Chairman Juba and <br />unanimously carried, the Board adopted the following resolution: <br />Resolution No. 2008-18 <br />RESOLUTION <br />LEVYING A TAX ON GROSS RECEIPTS DERIVED FROM <br />RETAIL SHORT-TERM LEASE OR RENTAL OF HEAVY EQUIPMENT <br />WHEREAS, the North Carolina General Assembly has ratified Senate Bill <br />1852, which has been designated as Session Law 2008-144 (the "Act"); and <br />WHEREAS, the Act repealed the ad valorem property tax on certain heavy <br />equipment leased or rented under retail short-term leases or rentals and <br />authorized counties to replace the lost tax revenue through enactment of a <br />local tax on gross receipts derived from the retail short-term lease or <br />rental of that heavy equipment. <br />NOW THEREFORE, BE IT RESOLVED by the Cabarrus County Board of <br />Commissioners that a tax be levied on gross receipts derived from the retail <br />short-term lease or rental of heavy equipment. <br />Section 1. Definitions. Zn addition to the common meanings of words, <br />the following definitions shall be applicable herein: <br />(a) "Customer" shall mean any person that leases or rents heavy <br />equipment on a short-term lease or rental basis. <br />(b) "Finance Officer" shall refer to that individual appointed <br />pursuant to G.S.~159-29 to serve as finance officer for Cabarrus County and <br />any other person authorized to carry out the duties and functions of such <br />individual. <br />(c) "General Statutes" shall refer to the North Carolina General <br />Statutes and any reference to a particular section thereof shall include the <br />same as may be from time to time amended, modified, supplemented, revised or <br />superseded. <br />(d) "Gross Receipts" shall mean the amount that is or would be <br />reported as gross receipts on a business's state income tax return, or on the <br />federal income tax return filed with the state income tax return if the state <br />