North Carolina General Statutes Chapter 105. Taxation § 105-449.45. Returns of carriers

(a) Return.--A motor carrier must report its operations to the Secretary on a quarterly basis unless subsection (b) of this section exempts the motor carrier from this requirement. A quarterly return covers a calendar quarter and is due by the last day in April, July, October, and January. A return must be filed in the form required by the Secretary.

(b) Exemptions.--A motor carrier is not required to file a quarterly return if any of the following applies:

(c) Informational Returns.--A motor carrier must file with the Secretary any informational returns concerning its operations that the Secretary requires.

(d) Failure to File Return.--A motor carrier that fails to file a return under this section by the required date is subject to a penalty of fifty dollars ($50.00).

(d1) Failure to Pay Tax When Due.--A motor carrier that fails to pay a tax when due is subject to a penalty of fifty dollars ($50.00), or ten percent (10%) of the tax due, whichever is greater. The Secretary shall not assess this penalty if the motor carrier files or pays in accordance with G.S. 105-236(a)(4)a. or b.

(d2) Penalty Waiver.--The Secretary may reduce or waive a penalty as provided under G.S. 105-449.119.

(e) Interest.--Interest on overpayments and underpayments of tax imposed on motor carriers under this Article is subject to the interest rate adopted in the International Fuel Tax Agreement.