Homes sales tax really impacts few
John Thompson East Lyme
Publication: The Day
After reading the Oct. 7 letter, "Why Democratic Party has failed U.S.," regarding the "3.8 percent sales tax if you sell your home," I decided to get the facts. Interesting the 3.8 percent tax applies to real estate profits (not gross sales) over $250,000 for individuals and $500,000 for couples. Thereby, if a couples makes a $499,000 profit on the sale of their home the tax does not apply. Further, the 3.8 percent tax only applies to individuals with incomes over $200,000 and couples with incomes over $250,000. The truth is something different than the stated 3.8 percent sales tax if you sell your home.
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Homes sales tax really impacts few
After reading the Oct. 7 letter, "Why Democratic Party has failed U.S.," regarding the "3.8 percent sales tax if you sell your home," I decided to get the facts. Interesting the 3.8 percent tax app...
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