May 30, 1995
TO: ACCOUNTING/TREASURERS MEMBERS No. 29-95
CLOSED-END FUND COMMITTEE No. 28-95
TAX MEMBERS No. 29-95
UNIT INVESTMENT TRUST COMMITTEE No. 49-95
RE: NORTH CAROLINA REPEALS INTANGIBLES TAX
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North Carolina has repealed its Intangible Personal Property Tax formerly applicable to shares of
stock, including shares and units of ownership of mutual funds and investment trusts. The repeal is
effective for taxable years beginning after 1994.
We will keep you informed of developments.
Peter J. Cinquegrani
Assistant Counsel - Tax