A closing-file reviewer in Huntersville is preparing an exam-prep note on the North Carolina conveyance tax at $1 per $500. Which statement best applies under current North Carolina law?

Correct Answer

D) Because the statute uses 'or fractional part,' any amount over an even $500 increment rounds up to another dollar of tax.

Because the statute uses 'or fractional part,' any amount over an even $500 increment rounds up to another dollar of tax.