Missouri Tax Lawyers

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In Missouri "taxes" are monies taken from individuals or corporations by the government, at a rate set by law.

The taxes that Missouri collects pay for essential public services like roads, firefighters, police, courts, schools, and many other benefits that come with living in a modern society.

Everyone who legally resides in Missouri is required to pay their taxes. If you don't pay the taxes assessed against you, you are committing a severe criminal offense, punishable by jail time and large fines.

Sources of Tax Revenue in Missouri

Taxes in Missouri can be derived from a large number of different sources, and in different amounts. The most common sources of tax revenue nationwide are Sales Tax, Income Tax, and Property Tax.

Sales Tax: Most states collect a tax on the sales of goods. In Missouri, the sales tax is calculated as a percentage of the sale price of most (but usually not all) items. Technically, the tax is assessed against the sellers of goods. However, the vast majority of vendors pass this tax onto their customers, adding it to the marked price of a product at the point of sale.

Income Tax: In Missouri, the "income tax" is exactly what the name implies: a tax on the income of individuals and corporations. Everyone in the United States has to pay the federal income tax. So, even if the state you live in doesn't have a personal income tax, you are liable for the federal tax. However, the majority of states have their own income tax, though it's usually much lower than the federal tax. Depending on how much money you make per year, your income will be taxed at a rate ranging from 10% to 33%.

Property Tax: Along with mortgage payments, property taxes in Missouri are one of the biggest expenses associated with home ownership. In order to collect property taxes, the state or local government appraises the value of every privately-owned piece of real estate in its jurisdiction. It then collects a certain percentage of that value in taxes. In order to avoid having to pay a huge tax bill at the end of each year, most people elect to pay their property taxes in monthly installments.

How Can A Missouri Tax Lawyer Help?

If you live in Missouri, and engage in any economic activity whatsoever (working for a salary, buying or selling goods, owning property, etc.), you almost certainly have a tax liability.

Tax Law in Missouri can get extremely complicated. It is so complex that most tax attorneys in Missouri practice tax law exclusively, eschewing all other practice areas. So, this specialization means that most tax lawyers are experts in their fields. It should go without saying, then, that a Missouri tax lawyer can be invaluable if you have an issue with your taxes.

Interesting Facts About Missouri

Missouri has a population of nearly 6 million and is the 18th most populated state in the U.S. It is commonly called "The Show Me State". Missouri also has a number of other informal nicknames, such as "The Ozark State" and "The Lead State". Former President Harry S. Truman was from Missouri, where he served as a judge in Jackson County for some time.

Missouri's court system is divided into three levels: the Circuit Courts of Missouri; the Missouri Courts of Appeals; and the Supreme Court of Missouri. Most claims begin at the Circuit Court level, with appeals being heard in the Appeals Court. The Supreme Court of Missouri was founded in the year 1841 and is located in Jefferson City. Missouri also maintains a municipal court system that processes minor violations and infractions.

Missouri is known for having one of the more lenient bodies of statutes among the states. Since Missouri is a leading producer of alcohol and tobacco in the U.S., its alcohol and tobacco laws are among the most non-restrictive in the country. Several law schools can be found in Missouri, including the University of Missouri School of Law ("MU Law") and Saint Louis University School of Law.

Lawyers in Missouri assist clients in many different legal fields. Missouri lawyers are knowledgeable of the state's unique set of laws and can provide legal expertise for specific matters. A Missouri lawyer can help you with any legal questions or legal disputes you may be involved in.