17 NCAC 04C .1803         RECORDS REQUIREMENTS

Every retail dealer and every wholesale dealer and their customers must keep records of inventories, purchases, and sales of other tobacco products for at least three years.  These records and inventories must be maintained separately in such a manner as can be inspected and audited by the Secretary or duly authorized representative at any time without having to go through and separate or segregate all sales of the taxpayer in order to arrive at the amount of exempt sales or inventories.

 

History Note:        Authority G.S. 105‑113.37; 105‑262;

Eff. June 1, 1992.