- North Carolina issued Sales and Use Tax Directive No. SD-26-2 on July 23, 2026, for a new tax on peer-to-peer vehicle sharing programs.
- Starting October 1, 2026, providers must collect and remit tax on gross receipts from limited possession commitments, including leases, rentals, and vehicle subscriptions.
- Tax rates are 8% for short-term leases or rentals, 5% for vehicle subscriptions, and 3% for long-term leases or rentals.
- Providers must register for a Motor Vehicle Lease and Subscription Tax account before the effective date.
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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