A city may, by resolution, impose a tax at the rate of eight-tenths (0.8) percent (on the gross receipts from the short-term lease or rental of heavy equipment by a person whose principal business is the short-term lease or rental of heavy equipment at retail. The heavy equipment subject to this tax is exempt from property tax under G.S. 105-275, and this tax provides an alternative to a property tax on the equipment. A person is not considered to be in a short-term lease or rental business if the majority of the person's lease and rental gross receipts are derived from leases or rentals to a person who is a related person under state law. The tax authorized by this section applies to gross receipts that are subject to tax under G.S. 105-164.4(a)(2). Gross receipts from the short-term lease or rental of heavy equipment are subject to a tax imposed by a city under this section if the place of business from which the heavy equipment is delivered is located in the city
(Ord. No. 2008-21, 11-5-08)