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General Taxes - Coursework Example

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For example, retailers, revenue departments and local governments are forced to document and monitor the distinction of ineligible and eligible products. The sales tax holiday has resulted in enormous…
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General Taxes
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Download file to see previous pages The holiday excludes all taxpayers regardless of their wealth. The budget of these households (the wealthiest) is more flexible and they can effortlessly time their purchases in order to take advantage of the limited-time offering (Sirot, 2011).
North Carolina state administration has failed to collect enough revenues to support its collective commitment to educating the children, protecting the neighborhoods and supporting the elders. The big challenge is that the revenue collected by the state is from those who have the least capability to pay (Sirot, 2011).
The sales tax produces nearly a third of the North Carolina’s revenues. However, the sales tax holiday leads in a loss of close to $12 million per year; this is the money that can fund early childhood education or enhance the educational attainment level of North Carolina young workforce. The sales tax holiday undermines the capability of the revenue system to offer support to the shared investments (Sirot, ...Download file to see next pagesRead More
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