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County officials took the first steps in lowering occupational and net profit taxes Monday morning. The change would take effect January 1, 2011.
The current rate collected by the fiscal court is one percent of occupational and net profits earned in Spencer County. Magistrates approved the first reading of a budget that would lower those rates to 0.8 percent.
For anyone employed in the county, the reduction would mean paying $80 for every $10,000 earned – instead of the $100 they are currently paying.
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