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in regards to our excise tax this is another of the mouth calculations not extraordinarily difficult but very specific when youre calculating excise tax I want you to understand that it is a state tax in other words the state of North Carolina a state tax on the conveyance of real property and with sellable property its a sales tax and the fact is that the excise tax is always paid by the seller its a seller debit on the settlement statement now having said that let me remind you of the formula for excise tax excise tax is our $1.00 per 500 of sale price $1.00 per 500 the sale price if the sale price is evenly divisible by $500 this is a very simple problem for you a sale price of $200,000 you would simply divide 200,000 by 500 and you would see that the excise tax is $400 and of course thats a $400 debit to the itself very very simple well of course nothing can be completely simple so say that North Carolina does this technically excise tax or charge that $1.00 per 500 a sale pri
