19A NCAC 03E .0304 U‑DRIVE‑IT CAR REGISTRATION
(a) The minimum number of passenger cars rented or leased to be operated by the lessee and to be licensed in North Carolina at the beginning of each registration year (determined by staggered registration) shall be determined as follows:
(1) Divide gross revenue earned in North Carolina by gross revenue earned in all jurisdictions during the preceding accounting year. The preceding accounting year means the 12 consecutive months January 1 thru December 31 (or as otherwise approved by the Commissioner), immediately preceding the registration year for which the application is filed.
(2) Multiply the North Carolina percent times the total number of passenger cars (u‑drive‑it) owned or operated as of the first day of the month of the registration year (determined by the staggered registration system).
(3) When equipment is added to the fleet after the original application is filed for any registration year, the same percent used at the beginning of that registration year shall be used to determine the number of passenger cars (u‑drive‑it) subject to registration in North Carolina during that particular month and each month thereafter through that registration year.
(b) A record of gross revenue earned in each jurisdiction, a record of licenses purchased and dates (day, month and year) shall be maintained for three years.
History Note: Authority G.S. 20‑1; 20-4.01(27)e; 20‑66; 20‑86.1;
Eff. July 1, 1978;
Amended Eff. December 1, 1993; November 1, 1991; July 1, 1983; February 1, 1982.