Madison and Chatham Counties: Increase Sales & Use Tax

July 24, 2020

Madison & Chatham Counties: Increase Sales & Use Tax  - JPS CPA

Effective October 1, 2020, the local sales and use tax rate for Madison County and Chatham County will increase from 2.0% to 2.5%, taking the combined NC state and local rate up to 7.0%.

NC sales and use tax generally applies to the retail sales price of tangible personal property, certain digital property such as publications and photographs, service contracts, certain repair maintenance, and installation services and leases of tangible personal property.

Retailers should ensure they use the new rate for sales sourced within these counties. Sales for which the retailer delivers the product to the customer within these counties is also subject to sales tax.

The NC Department of Revenue’s Notice regarding this change is available at this link
A complete listing of the county sales tax rates as of July 1, 2020, is available here.

 

Do you and your business need help navigating these changing times? Contact JPS.

www.jpspa.com

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