Chapter 7 Salaries Tax: Computation
4. Married couple filing jointly having taxable assets valued at $760,000.00. Taxable Assets $760,000.00 Exemption -500,000.00 Net Taxable Assets $260,000.00 Tax Rate .001 Tax Due $ 260.00 Total Tax Due $260.00 (2) Nonrecurring tax: (a)1. There shall be levied a nonrecurring tax of $2.00 per thousand dollars (2 mills) of just value of a note or ... ................
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