NC General Statutes

N.C. Gen. Stat. § 105-83 (2026)

Installment paper dealers

✓ current as of July 2026

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(a) Every person engaged in the business of dealing in, buying, or discounting installment paper, notes, bonds, contracts, or evidences of debt for which, at the time of or in connection with the execution of the instruments, a lien is reserved or taken upon personal property located in this State to secure the payment of the obligations, shall submit to the Secretary quarterly no later than the twentieth day of January, April, July, and October of each year, upon forms prescribed by the Secretary, a full, accurate, and complete statement, verified by the officer, agent, or person making the statement, of the total face value of the obligations dealt in, bought, or discounted within the preceding three calendar months and, at the same time, shall pay a tax of two hundred seventy-seven thousandths of one percent (.277%) of the face value of these obligations.

(b) Repealed by Session Laws 1998-95, s. 9, effective July 1, 1999.

(c) If any person deals in, buys, or discounts any obligations described in this section without paying a tax imposed by this section, the person may not bring an action in a State court to enforce collection of an obligation dealt in, bought, or discounted during the period of noncompliance with this section until the person pays the amount of tax, penalties, and interest due.

(d) This section does not apply to the following:

(1) Banks. For purposes of this subdivision, the term "bank" has the same meaning as defined in G.S. 105-130.7B(b).

(2) Savings and loan associations.

(e) Counties and cities shall not levy any license tax on the business taxed under this section. (1939, c. 158, s. 148; 1957, c. 1340, s. 2; 1973, c. 476, s. 193; 1981, c. 83, ss. 8, 9; 1991, c. 45, s. 3; 1991 (Reg. Sess., 1992), c. 965, s. 3; 1998-95, s. 9; 1998-98, s. 1(f); 2021-180, s. 42.13B(a).)

§ 105-84: Repealed by Session Laws 1979, c. 150, s. 5.

§§ 105-85 through 105-86: Repealed by Session Laws 1996, Second Extra Session, c. 14, s. 17.

§ 105-87: Repealed by Session Laws 1981, c. 6.

Notes of Decisions

Cited in 3 cases, 1961–2006 · leading case: Navistar Fin. Corp. v. Tolson, 625 S.E.2d 852 (N.C. Ct. App. 2006).

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Navistar Fin. Corp. v. Tolson, 625 S.E.2d 852 (N.C. Ct. App. 2006). · cites it 76× “Over that same time period, plaintiff paid over seven hundred thousand dollars in North Carolina installment paper dealer taxes pursuant to N.C. Gen. Stat. § 105-83 . On 19 June 2003, plaintiff filed a complaint alleging the following: “taxes paid by [plaintiff] .”

Chrysler Fin. Co., LLC v. Offerman, 531 S.E.2d 223 (N.C. Ct. App. 2000). · cites it 60× “On 30 July 1993, the Department of Revenue assessed Chrysler Financial taxes, interest, and penalties for transactions made under *271 its Wholesale Finance Plan with dealerships located in North Carolina, pursuant to N.C. Gen. Stat. § 105-83 . 2 The 30 July 1993 assessments…”

Lenoir Fin. Co. v. Currie, 118 S.E.2d 543 (N.C. 1961). · cites it 3× “105-50; installment paper dealers, licensed and taxed under G.S. 105-83; loan agencies or brokers, licensed and taxed under G.”

— N.C. Gen. Stat. § 105-83(a) — 1 case

Chrysler Fin. Co., LLC v. Offerman, 531 S.E.2d 223 (N.C. Ct. App. 2000). “On 30 July 1993, the Department of Revenue assessed Chrysler Financial taxes, interest, and penalties for transactions made under *271 its Wholesale Finance Plan with dealerships located in North Carolina, pursuant to N.C. Gen. Stat. § 105-83 . 2 The 30 July 1993 assessments…”

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