Tax Lawyers in New London County
The government of New London County, Connecticut collects taxes from its residents in order to pay for general public services, like police and fire departments, libraries, hospitals, and public transit.
Taxes in New London County, Connecticut are derived from a wide number of sources. Regardless of the source, however, the amount that's taken is never arbitrary, and is always decided by law. A tax can come either in the form of a flat fee, or as a percentage of one's income, the value of a piece of property, or a sale.
In case you were wondering, paying your taxes in New London County is mandatory. The law states it. So, if you don't pay your taxes, with extremely few exceptions, you are guilty of a crime, and will be punished accordingly.
Sources of Tax Dollars in New London County, Connecticut
Numerous different things can be taxed in New London County, Connecticut. This is meant to ensure that there is a wide range of sources of tax revenue, and that the government does not have to rely too heavily on any one revenue stream that could dry up. For instance, local governments collect revenue from sales taxes, licensing fees, as bridge tolls, among several other things.
Sales Tax: A sales tax in New London County is a surcharge added to the price of most goods that are sold by retailers to the general public. The government of further imposes a sales tax, which must be paid in addition to the local tax. Typically, local sales taxes are less than one percent, while state sales taxes are in the 5% range.
Licensing Fees: New London County issues licenses that are required to legally engage in certain activities. Most often, the purpose of these licenses is to raise revenue in the form of fees, making them comparable to taxes. One of the most common is the business license, which most businesses must obtain before operating.
Bridge/Road Tolls: Most major cities charge a toll to enter them via main roads or bridges. These fees are meant to pay for the upkeep of basic public infrastructure in New London County, by imposing a tax on visitors to it. In theory, this means that individuals who visit the city are obligated to contribute to the upkeep of the infrastructure that they will be using while present there.
How Can a New London County, Connecticut Tax Attorney Help?
Tax Law in New London County, Connecticut is sometimes simple. More often than not, however, some wrinkle appears that makes determining one's tax liability more convoluted than it probably needs to be. Furthermore, many individuals and groups are legally entitled to tax breaks and deductions, which can make figuring out one's tax liability even more difficult.
Thus, it's essential that you obtain the counsel of a qualified tax lawyer in New London County, Connecticut if you think that you might need help with your local taxes.