Abstract:
Changes in the Revenue Act increased the North Carolina General Fund over $32 million. Levied surtax was issued on liquors; sales and use tax exemptions were removed on horses and mules, fuel, and freezer supplies; sales and use tax exemptions were removed on farm and mill machinery, office equipment, and broadcasting equipment; tax rates were increased on sales and use tax on motor vehicles and airplanes; and sales and use tax exemptions were removed on sales of drugs, food, newspapers, photographs, and sales to State of North Carolina and its agencies.