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Excise break license

Excise break license easily

Aug 6th, 2022

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How to excise break license

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welcome to seacoast real estate academy today in our math tutorial series we will be reviewing excise tax in a real estate transaction excise tax is the north carolina state tax on conveyance of property usually paid by a seller as a seller debit excise tax is also known as revenue tax and tax stamps lets look at the formula youll be using the formula is the sales price divided by 500 or any portion thereof please keep in mind you should always round up to the next whole dollar amount there should never be a point anything as an answer now lets put this into practice how much excise tax will sellers rob and joanne need to pay at closing when the sales price of their home was three hundred thousand dollars in this case the formula will be three hundred thousand dollars divided by five hundred this will give us six hundred dollars in excise tax now what happens when the sales price is not divisible by five hundred you simply round up the result so if rob and joannes home sold for th

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