Instructions for Form E-554 Consumer Use Tax Return - North Carolina

Form E-554 Consumer Use Tax Return - North Carolina

This document contains official instructions for Form E-554 , Consumer Use Tax Return - a form released and collected by the North Carolina Department of Revenue. An up-to-date fillable Form E-554 is available for download through this link.

FAQ

Q: What is Form E-554?
A: Form E-554 is the Consumer Use Tax Return for North Carolina.

Q: Who needs to file Form E-554?
A: Anyone who purchases taxable items for use in North Carolina and did not pay sales tax to the seller needs to file Form E-554.

Q: What is the purpose of Form E-554?
A: The purpose of Form E-554 is to report and pay the consumer use tax owed on taxable items purchased for use in North Carolina.

Q: When is Form E-554 due?
A: Form E-554 is due on or before the 20th day of the month following the month in which the taxable purchase was made.

Q: What happens if I don't file Form E-554?
A: Failure to file Form E-554 and pay the consumer use tax owed may result in penalties and interest being assessed by the North Carolina Department of Revenue.

Q: Do I need to include documentation with Form E-554?
A: Documentation of the taxable purchases, such as receipts or invoices, should be retained but does not need to be submitted with Form E-554.

Q: Are there any exemptions to the consumer use tax?
A: Some items, such as prescription drugs and certain medical equipment, are exempt from the consumer use tax. Please refer to the instructions for Form E-554 for more information on exemptions.