Local option income tax, We expect to receive $6.75 million

Local option income tax

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Reference no: EM13848662

We expect to receive $6.75 million this year from our Local Option Income Tax (LOIT). The state collects the tax and sends equal payments to us at the end of each quarter. Assume we use a normal calendar year for accounting purposes. How much money will we receive by the end of August?

Reference no: EM13848662

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