Tax Lawyers in Covington
To pay for general services like police, schools, firefighters, libraries, and hospitals, the government of Covington, Kentucky collects taxes.
Taxes in Covington, Kentucky 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.
You are legally-obligated to pay your taxes in Covington. 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 Covington, Kentucky
In Covington, StateName>, taxes can come from a range of sources, such as sales tax, licensing money, and bridge/road tolls.
Sales Tax: The sales tax imposed by Covington is on top of the sales tax collected by the government of . Sales taxes are normally fairly small - about 5-7% at the state level, plus a city sales tax that's normally one percent or less.
Licensing Fees: Covington issues licenses that are required to legally engage in particular activities. Most commonly, the purpose of these licenses is to raise revenue in the form of fees, making them comparable to taxes. One of the most frequent is the business license, which most businesses must obtain before operating.
Bridge/Road Tolls: Many major cities have tollbooths on all the main roads or highways that go into them. This effectively amounts to a tax paid to enter Covington, ensuring that visitors to the city present at least a small contribution to paying for the city services that they will enjoy while there.
How Can a Covington, Kentucky Tax Attorney Help?
In Covington, Kentucky, many different laws and regulations govern taxes, making the theoretically simple task of determining one's tax liability pretty complicated. On top of that, there are many different breaks and exemptions that apply to specific types of groups and individuals, further complicating things.
If you have any legal issues with your taxes, you should obtain legal advice from a qualified and reputable tax attorney in Covington, Kentucky.