North Carolina Administrative Code Title 17 — Revenue

17 NCAC 04E .0205

Major Disaster Reporting

Official textreports.oah.state.nc.us12 subsections

# (a)

To claim a major disaster exemption pursuant to G.S. 105 -113.81(a), wholesalers and importers of malt beverages or wine must submit Form B-C-750 to the Department. If the wholesaler or importer meets the requirements of G.S. 105-113.81(a) and is therefore qualified to take the exemption, the Department will return Form B-C-750 verifying that an exemption can be claimed. If verified by the Department, the wholesalers or importers shall include Form B-C-750 with the monthly report filed pursuant to G.S. 105-113.83.

# (b)

Form B-C-750 requires the following:

# (1)

the reporting period for the report;

# (2)

information required by 17 NCAC 01C .0322(b);

# (3)

the wholesaler or importer's legal name and mailing address;

# (4)

the trade name or doing-business-as name, if applicable;

# (5)

if the wholesaler or importer elects to designate a contact person, the identity of a contact person, including his or her legal name, phone number, and fax number;

# (6)

the type of product subject to the major disaster;

# (7)

the brand name of the product subject to the major disaster;

# (8)

the amount of malt beverages or wine subject to the major disaster; and (9) documentation to support that a major disaster occurred.

# (c)

Several small disasters cannot be accumulated and then classified as a major disaster. A major disaster shall be classified as only one event when the loss occurs, and not an accumulation of events. Any missing beverage inventory that cannot be classified as a major disaster shall be considered as malt beverage or wine sold and subject to the excise tax.

# (d)

Resident wholesalers or importers cannot claim an exemption or deduction for losses in their inventory unless the losses qualify for the exemption under G.S. 105-113.81(a).

Last amended: Authority G.S. 105-113.81; 105-113.83; 105-262; Eff. February 1, 1976; Amended Eff. April 1, 1986; October 30, 1981; Readopted Eff. January 1, 2021.

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