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Daily Tax Report: State

North Carolina Enacts Marketplace Sales Tax Requirements

Nov. 8, 2019, 11:08 PM

Online marketplace facilitators like Amazon.com Inc. and Etsy Inc. will have to start collecting sales tax on third-party sales under a new North Carolina law.

Gov. Roy Cooper (D) approved S.B. 557, which requires those collections to begin Feb. 1, 2020. The new law also adopts market-based sourcing for purposes of apportioning corporate income and increases the state’s standard deduction, among other things.

Cooper signed the legislation into law the same day he vetoed another bill that would have lowered the state’s franchise tax rate. Lawmakers carved out certain tax provisions that were in their budget plan that Cooper...

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