North Carolina Department of Revenue: Privilege License Tax

N.C.G.S. Section 105-41 required every individual in North Carolina who practiced a profession or engaged in a business to obtain from the North Carolina Department of Revenue (hereafter “NCDOR”) a statewide license for the privilege of practicing a profession or engaging in the business.

However, Session Law 2023-134 repealed this requirement under the General Statutes. Effective July 1, 2024, real estate brokers and other professionals are no longer required to apply to the NCDOR for a privilege license, or renew an existing privilege license, each year beginning July 1, 2024. The last license period will be for the fiscal year, July 1, 2023 to June 30, 2024.

If you would additional information regarding this change, read the Privilege Tax Bulletin published by the North Carolina Department of Revenue.