What is NC e500?

What is NC e500?

Gross receipts derived from the sale of tangible personal property and the sales and use tax thereon are to be reported to the Department on Form E-500, Sales and Use Tax Return. This form corresponds to October 2014 and forward.

How do I file an e500 in NC?

How to File

  1. Enter your business contact and sales tax ID number, then choose “File E-500 and pay the full amount online”.
  2. From the drop-down menu, select the month, date, and year.
  3. Enter your gross receipts for the reporting period in the NC Gross Receipts box 1.

What is NC sales and use tax?

The North Carolina (NC) state sales tax rate is currently 4.75%. Depending on local municipalities, the total tax rate can be as high as 7.5%.

What is North Carolina gross receipts?

In North Carolina, Gross Receipts Tax is an Excise Tax. Excise Tax is defined by the Internal Revenue Service as “taxes paid when purchases are made on a specific good”. A “specific good” can be: A prepared food, or a prepared beverage.

What is considered resale?

The common meaning of “resale” is the act of “selling again.” A sale is made for resale where the seller knows or has reasonable cause to believe that the goods or services will be resold, whether in their original form, or in an altered form, or as a part, component or ingredient of another article.

Will the NC Department of Revenue call you?

The NCDOR will not contact a taxpayer in person unless the agency has first attempted to provide the taxpayer with notification(s) via mail. The NCDOR will not demand a taxpayer pay taxes without first giving the taxpayer an opportunity to question or appeal the amount owed.

Is food taxed in North Carolina?

Are groceries taxable in North Carolina? In North Carolina, grocery items are not subject to the state’s statewide sales tax, but are subject to a uniform 2% local tax. Candy, however, is generally taxed at the full combined sales tax rate.

What is not taxed in NC?

Goods that are subject to sales tax in North Carolina include physical property, like furniture, home appliances, and motor vehicles. Prescription Medicine, groceries, and gasoline are all tax-exempt. Some services in North Carolina are subject to sales tax.

How do I file sales tax in NC?

You should file using a blank sales and use tax return with the notation “Number Applied For” and include remittance of the tax due. Form E-500 can be obtained online or ordered by mail. Forms can also be obtained by contacting the Taxpayer Assistance and Collection Center at 1-877-252-3052 (toll free).

How do you figure out NC sales tax?

North Carolina has a 4.75% statewide sales tax rate, but also has 324 local tax jurisdictions (including cities, towns, counties, and special districts) that collect an average local sales tax of 2.188% on top of the state tax….North Carolina Sales Tax Calculator.

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What items are subject to sales tax in NC?