Tax Lawyers in Markham
To pay for basic services like police, schools, firefighters, libraries, and hospitals, the government of Markham, Illinois collects taxes.
Taxes in Markham, Illinois can come from a wide variety of sources, but they are always collected at a rate set by law. Sometimes, taxes might come in the form of flat fees, and other times they are collected as a percentage of something, such as a person's income or the value of a piece of property.
Paying your taxes in Markham is not optional. It is required by law. If you don't pay your taxes, you could face stiff fines, and even jail time.
Sources of Tax Dollars in Markham, Illinois
Several different things can be taxed in Markham, Illinois. 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 example, local governments collect revenue from sales taxes, licensing fees, as bridge tolls, among many other things.
Sales Tax: The sales tax imposed by Markham is on top of the sales tax collected by the government of . Sales taxes are typically fairly small - about 5-7% at the state level, plus a city sales tax that's typically one percent or less.
Licensing Fees: Markham issues licenses that are required to legally engage in specific activities. Most frequently, the purpose of these licenses is to raise revenue in the form of fees, making them similar to taxes. One of the most typical is the business license, which most businesses must obtain before operating.
Bridge/Road Tolls: Most major cities charge a toll to enter them via major roads or bridges. These fees are meant to pay for the upkeep of general public infrastructure in Markham, by imposing a tax on visitors to it. In theory, this means that people who visit the city are required to contribute to the upkeep of the infrastructure that they will be using while present there.
How Can a Markham, Illinois Tax Attorney Help?
Tax Law in Markham, Illinois is not simple. Taxes are imposed on a wide range of activities, and the manner in which they're calculated can be very confusing. Moreover, there are usually special tax breaks or exemptions that may or may not apply to you.
If you have any legal issues with your taxes, you should pursue legal advice from a skilled and reputable tax attorney in Markham, Illinois.