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A special-purpose local-option sales tax (SPLOST) is a financing method for funding capital outlay projects in the U.S. state of Georgia.It is an optional 1% sales tax levied by any county for the purpose of funding the building of parks, schools, roads, and other public facilities. [1]
Counties in Georgia may impose local sales tax of 1%, 2%, or 3%, consisting of up to three 1% local-option sales taxes (out of a set of five) as permitted by Georgia law. These include a special-purpose tax for specific project lists, a general-purpose LOST, a homestead exemption (HOST), and an educational one for public schools (ELOST) which ...
In the United States, a local option sales tax (often abbreviated LOST) is a special-purpose tax implemented and levied at the city or county level. A local option sales tax is often used as a means of raising funds for specific local or area projects, such as improving area streets and roads, or refurbishing a community's downtown area.
The Georgia Department of Revenue (GDOR) is the principal tax collection agency in the U.S. state of Georgia. The Department administers tax laws and enforces laws and regulations concerning alcohol and tobacco products in the state. [1] The Georgia Department of Revenue is headquartered in Atlanta, Georgia
Regulatory reasons: A special-purpose entity can sometimes be set up within an orphan structure to circumvent regulatory restrictions, such as regulations relating to nationality of ownership of specific assets. [citation needed] Property investing: Some countries have different tax rates for capital gains and gains from property sales.
The Augusta Rule is an IRS provision that allows homeowners to rent their home for up to 14 days each year without having to report the rental income received on their individual tax returns. The ...
There are 6 flat tax rates in Georgia: corporate profit tax, value added tax, excise tax, personal income tax, import tax and property tax. [1] Personal income tax in Georgia are collected at a flat rate of 20% on local-source income. Foreign-source personal income is tax-exempt. [2]
For more than a decade, films or TV shows that filmed in Georgia and spent at least $500,000 in the state could qualify for a 20-percent tax credit; putting a "Made in Georgia" logo on the final ...