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A BILL TO BE ENTITLED AN ACT to give Guilford County greater flexibility to use local option sales tax revenues for education. The General Assembly of North Carolina enacts: SECTION 1. G.S.105537
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Expand local option sales refers to the ability of local jurisdictions to impose additional taxes on the sale of certain goods or services, aimed at increasing revenue for local projects and initiatives.
Businesses or vendors who sell products or services in areas where local option sales taxes have been imposed are required to file expand local option sales.
To fill out expand local option sales, businesses must complete the appropriate tax forms provided by their local government, detailing their sales, the applicable tax rate, and any exemptions.
The purpose of expand local option sales is to allow local governments to generate additional revenue to fund public services, infrastructure, and community projects.
Businesses must report total sales, the amount of local option tax collected, and any applicable exemptions or deductions on their expand local option sales report.
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