HBAFlash

Weekly Association Update: January 25, 2019

Important Tax Exemption For Builders- Due January 31 If you are holding in inventory for sale a single-family or duplex house or land which you have improved for residential or commercial purposes since July 1, 2015, you are eligible to have the value of these improvements exempted from local property taxes .    This exemption also applies to single-family and duplex houses under construction or land currently being developed . But, you must apply for this exemption every January.   In one of NCHBA's most important legislative victories ever, the General Assembly in 2015 exempted from local property tax the increase in value of real property held for sale by a builder or developer to the extent that the increase is attributable to subdivision or other improvement to the property. For more information and details on this law , click here .   Don't leave your money on the table! Apply for this exemption.    FOR MORE INFORMATION : Contact Mike Carpenter, mcarpenter@nchba.org , or Tim Minton, tminton@nchba.org , or call NCHBA at (800) 662-7129.

Labor Sales Tax Exemption Form All builders and remodelers should give this form to any vendor that charges labor. Otherwise, you are responsible for the sales tax on that labor. If you have questions about this form, please contact Tim Minton at NCHBA, tminton@nchba.org or (919) 676-9090. Generally, services to real property are retail sales of or the gross receipts derived from repair, maintenance, and installation services, unless a person substantiates that a transaction is subject to sales and use tax as a real property contract, a mixed transaction contract, or the transaction is not subject to sales and use tax. Form E-589CI, may be issued to substantiate that a contract, or a portion of work performed to fulfill a contract, is a capital improvement to real property and subject to sales and use tax as a real property contract.

5th Annual Cornhole Tournament May 3, 2019 The 5th Annual Cornhole Tournament is back! Come enjoy the game, food and adult beverages while meeting with your fellow HBAF members. Sponsorship Information

Register

We Are Going Paperless in 2020 What does this mean for you? The HBA of Fayetteville will no longer “snail mail” your invoices for dues or events. Invoices will be sent by email only, beginning January 2020 . You have one year to prepare. It is important that you have an email that you check regularly on file so that you receive all of your invoices. You are able to login to your HBAF account and update your email address at your convenience. Additionally, when you pay your dues by credit card, you are automatically enrolled into autopay. Your credit card will be charged your membership dues during your anniversary month each year. We appreciate your assistance and understanding as we transition to this new paperless process.

Education Edge: Take Advantage of IBS Pre-Show Courses

Boost your business before the Show even starts with  NAHB's Pre-Show Education . These 15 courses are one-day sessions that dig deep into industry topics and come with a free expo pass. Members can start earning an NAHB Professional Designation, or earn continuing education credits (CE) for one they already have. Learn more .

January 29 Investment Committee 8:30 am Office Renovation Committee 9:30 am February 5 NCHBA 1st Quarter Meeting Pinehurst Register FULL LIST OF EVENTS

‌ ‌