17 N.C. Admin Code 07B .4206 - Fed Savings/loan Assoc, Natl and State Banks, Credit Unions

For purposes of G.S. 105-164.13(17), sales which a state would be without power to tax under the Constitution or laws of the United States or under the Constitution of this State do not include the following sales:

(1)           Sales to federal savings and loan associations and national banks.

(2)           Sales to state banks and state chartered credit unions.