State Codes and Statutes
Statutes > North-carolina > Chapter_105 > GS_105-1_1§ 105‑1.1. Supremacy ofState Constitution.
The State's power of taxationis vested in the General Assembly. Under Article V, Section 2(1), of the NorthCarolina Constitution, this power cannot be surrendered, suspended, orcontracted away. In the exercise of this power, the General Assembly may amendor repeal any provision of this Subchapter in its discretion. No provision ofthis Subchapter constitutes a contract that the provision will remain in effectin future years, and any representation made to the contrary is of no effect. (2003‑416, s. 12.)
