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SPLOST's Special Purpose

Sales taxes are a large revenue stream for governments. They usually go by the name "SPLOST"- Special Purpose Local Option Sales Tax.

Try this: if you have an old receipt nearby from your last retail or restaurant purchase, look at the very bottom. Underneath the listing of all of your purchase items there is a column labeled "Subtotal" and another "Tax." The "Tax" amount you see is the sales tax received from your purchase. It is calculated as a percentage of all sales items, not each individual item.

Many governments, by law, use the sales tax dollars for capital improvements and not for immediate expenditures. In other words, the sales tax revenues must be used for projects that will upgrade, improve, or sustain any government-owned assets and infrastructure. This includes improving roads, bridges, sidewalks, and water and sewer systems to name a few.

The sales tax is an ad valorem tax meaning it is calculated as a percentage value of your overall purchase.

Sales taxes are large contributors to many of the necessary infrastructure improvements and economic development projects taking place throughout the nation. It's a tiny percentage that yields huge dividends.

Thanks for Reading,

Matthew





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