Escrow & Title
On a $350,000 sale, how much is the North Carolina excise tax?
A$350
B$700✓ Correct
C$1,050
D$1,400
Explanation
$350,000 / $1,000 = 350 units x $2.00 = $700 in excise tax. Using the values given ($350,000), apply the appropriate formula.. The correct answer is $700.. This is a common calculation on the North Carolina real estate exam.
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