Tax Lawyers in Franklin Park

The government of Franklin Park, Illinois collects taxes from its residents in order to pay for basic public services, like police and fire departments, libraries, hospitals, and public transit.

In Franklin Park, Illinois, taxes are derived from several sources. Regardless of where a particular tax comes from, it is always collected in an amount dictated by law. Most often, taxes are calculated as a percentage of income, sales, or property value. Sometimes, usually in the context of licensing fees or car registration fees, taxes are set at a flat rate.

You are legally-required to pay your taxes in Franklin Park. If you fail to pay your taxes, without a compelling reason, you are committing a crime, and may end up going to jail as a result.

Sources of Tax Dollars in Franklin Park, Illinois

There are a massive number of different sources of tax revenue in Franklin Park, Illinois. They include, among many others, sales tax, licensing fees, and road tolls.

Sales Tax: Generally cities in the U.S., as well as most states, charge a sales tax. In Franklin Park, the sales tax is calculated as a percentage of the sale price of most goods and services. The rate varies from state to state, and city to city.

Licensing Fees: In Franklin Park, licenses are required to engage in many different activities, or at least to do so legally. The most frequent of these are business licenses. While some professions require licenses because the state has an interest in ensuring competence in them (in law and medicine, for instance), many business licenses exist for the primary purpose of compiling revenue, and therefore serve the same purpose as taxes.

Bridge/Road Tolls: Many larger cities in the U.S. charge tolls to enter the city via major highways or bridges. This amounts to a tax paid for the privilege of entering Franklin Park if it has such toll roads. Besides being a general source of revenue, these tolls require visitors to the city, who will have many city services available to them while they visit, to pay at least some contribution to these services.

How Can a Franklin Park, Illinois Tax Attorney Help?

Tax Law in Franklin Park, Illinois is sometimes simple. More often than not, however, some wrinkle appears that makes determining one's tax liability more complicated than it probably needs to be. Additionally, many individuals and groups are legally entitled to tax breaks and deductions, which can make figuring out one's tax liability even more difficult.

Therefore, it's extremely important that you obtain the advice of a reliable Franklin Park, Illinois tax attorney if you have any tax law questions.