Arkansas Tax Lawyers

Locate Arkansas Tax Lawyers

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

The taxes that Arkansas 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 Arkansas is required to pay their taxes. If you don't pay the taxes assessed against you, you are committing an egregious criminal offense, punishable by jail time and large fines.

Sources of Tax Revenue in Arkansas

Taxes in Arkansas 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 Arkansas, 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. But, 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: Everybody in the U.S., including residents of Arkansas, is required to pay a federal income tax, assuming they bring in any income. Most states also have a personal income tax, though some states do not. The majority of Americans derive almost all of their income from employment wages. Typically, their federal and (if applicable) state income taxes are deducted from their paychecks. This is beneficial, in that your taxes are paid as you go, and you usually don't have a large tax bill at the end of the year. Depending on one's income, the federal income tax rate can be as low as 10%, or as high as 33%.

Property Tax: In Arkansas, a tax is enforced on every piece of privately-owned land, including residential lots. The state simply appraises every piece of property in its territory, then taxes the owner a percentage of the property's value. Typically, the assessed (taxable) value of the property is considerably less than its market value. To avoid paying a large property tax bill at the end of each year, most homeowners pay it in monthly installments, often as part of their mortgage payment.

How Can A Arkansas Tax Lawyer Help?

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

Tax law issues in Arkansas are never simple. In fact, most tax attorneys ONLY practice tax law in Arkansas, because tax law is so perplexing that an attorney pretty much has to specialize in it. This has the benefit of creating a situation where every competent tax attorney is practically an expert in tax law, because they have to be. If you have a problem with your taxes, whether state or federal, it is always a good idea to get some advice from a good Arkansas tax lawyer.

Interesting Facts About Arkansas

Arkansas nicknamed "The Natural State", in reference to its many natural geographic features. It is sometimes known by its former nickname of "the Land of Opportunity". Arkansas has a population of nearly 3 million people, and the state capital city is Little Rock. Some counties in Arkansas have two county seats.

Legal claims in Arkansas are processed through the state's judicial branch. This consists of the Arkansas Supreme Court, Court of Appeals, and Circuit Courts. There are also District Courts and City Courts, which do not conduct any jury trials. Thus, many legal claims are processed at the Circuit Court level. The Arkansas Supreme Court building also houses a library and is noted for its beautiful rotunda layout.

One of the most famous U.S. Supreme Court cases, United States v. Miller, originated in Arkansas. The Miller case involved the 2nd Amendment, specifically with regards to registration of firearms for tax purposes. The Miller decision is a key case in America's ongoing gun control debate, and is often cited by both sides of the debate.

Lawyers in Arkansas provide legal advice, assistance with legal forms, and representation in court. Arkansas laws are very specific to the region, and Arkansas lawyers understand how to interpret the laws for you. An experienced Arkansas attorney can help you through the legal process from beginning to end.