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Wilmington Select board Agenda April 4, 2023, at 6:00 pm 1. Visitors, Public Comments, Possible Changes to the Agenda 2. Approve Minutes of March 21, 2023 (5 minutes) 3. 1% Local Option Tax Request

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What is 1 local option tax?

The 1 local option tax is a tax levied by local governments, typically on sales or specific transactions, allowing municipalities to generate additional revenue for local services and programs.

Who is required to file 1 local option tax?

Businesses that collect the 1 local option tax from customers during transactions are required to file this tax with the local government.

How to fill out 1 local option tax?

To fill out the 1 local option tax, one must complete the tax form provided by the local authority, detailing the total sales, the amount of tax collected, and any deductions or exemptions applicable.

What is the purpose of 1 local option tax?

The purpose of the 1 local option tax is to provide local governments with additional funding for essential services such as education, infrastructure, and public safety.

What information must be reported on 1 local option tax?

Businesses must report total sales, the total amount of local option tax collected, any exemptions, and the net taxable amount on the 1 local option tax return.

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