Certain closing costs will be prorated to account for the period of time during which the seller occupied the house. assume the annual tax amount is $5,725. $372.60 is the daily tax amount, assuming a 365-day year.
136/365=37.26% of 1000=$372.60
A tax is a compulsory financial burden or other burden imposed on a taxpayer (individual or corporate) by a governmental organization to fund the government and various public expenditures (local, local, or national). is a type of levy, and tax compliance refers to the intended policies and actions of individuals.
Ensure taxpayers pay the right amount of tax at the right time and receive the right tax credits and relief. The first known taxation took place in ancient Egypt around 3000-2800 BC. Late payments (violations) and tax evasion or refusal are subject to penalties. Taxes consist of direct or indirect taxes and can be paid in cash or in labor equivalents.
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