Early Voting Underway for Charlotte Primary Election

Early Voting is now underway in the City of Charlotte’s September 12th Primary Election, and will expand after Labor Day to nine convenient sites around town. Dates, times and locations are below:

Click Here to see which candidates REBIC has endorsed in the September 12th Primary Election.

Primary Voting Calendar

Brand New Changes To Sales Tax On Labor

Last Friday, Governor Roy Cooper signed SB 628 (various changes to the revenue laws), which among other provisions, contained several clarifying changes to sales and use tax on labor applicable to residential construction.

Click here to view a brief description of the sales tax law supported by the North Carolina Home Builders Association (NCHBA).

(Source:  NCHBA)

General Assembly Passes Tax & Regulatory Reform Bills During Daylong Session

legislative_building_5

Returning to Raleigh for a brief session last Thursday, the North Carolina General Assembly completed work on two bills that will provide clarity to the state’s tax law and reduce the cost of redevelopment.

Both chambers agreed to a conference report for SB 628 (Various Changes to Revenue Laws). This bill contains numerous provisions sought by our legislative team to simplify and clarify recent changes to sales tax on repair, maintenance, and installation (RMI) services. Perhaps the most significant change increased the “mixed transaction” threshold (which is a project that includes both a capital improvement and one or more RMI services).

Under current law, if the RMI portion of the project is less than 10%, it is exempt from sales tax on labor. This bill increases the percentage to 25% or less of the cost of the entire project. This increase means that most traditional residential remodeling jobs will be exempt from sales tax on labor even if they include significant repair items unrelated to the remodeling. New construction is already exempt from sales tax on labor because, by definition, it is a “capital improvement.” Continue reading

EPA Releases Rule to Withdraw WOTUS

IMG_0072Fulfilling a portion of an executive order by President Donald Trump, the EPA and U.S. Army Corps of Engineers have released a proposal to rescind the Waters of the United States rule that expanded federal jurisdiction under the Clean Water Act.

The proposal (link is external) published in the Federal Register on Thursday, July 28 would nix the 2015 WOTUS rule and reinstate the definition of the streams and wetlands subject to federal oversight under the act that existed prior to its finalization.

The publication of the proposal constitutes the first part of a two-step process to meet the Feb. 28 executive order directing the rule’s review. The second step will be “a separate notice and comment rulemaking that will consider developing a new definition” for the extent of federal jurisdiction under the act, say the EPA and Corps in a pre-publication copy of the proposed rescission.

The embattled regulation was stayed by the 6th Circuit Appeals Court in October 2015. The rule’s opponents have said it defined federal jurisdiction too broadly and granted undue control to the government.

Repeal of WOTUS would be a major victory for property owners across the nation, and has been heavily supported by the National Association of Realtors® (NAR), the National Association of Home Builders (NAHB) and other industry groups.

Source: National Association of Realtors®