Tax imposed on prime contractor's receipts from realty improvement contracts--Rate of tax

There is imposed an excise tax upon the gross receipts of all prime contractors engaged in realty improvement contracts, at the rate of two percent. Source: SL 1979, ch 84 , § 12A; SL 1980, ch 100 , § 1; SL 1984, ch 92 , §§ 1, 1A; SL 1985, ch 92 .