Real Estate Math
A property sold for $285,000 in North Carolina. What is the excise tax owed by the seller?
A$285.00
B$570.00✓ Correct
C$855.00
D$1,425.00
Explanation
NC excise tax is $1 per $500 (or fraction thereof) of the sale price, paid by the seller. $285,000 / $500 = 570 units × $1 = $570.
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