Tax Lawyers in Lexington
To pay for basic services like police, schools, firefighters, libraries, and hospitals, the government of Lexington, Massachusetts collects taxes.
In Lexington, Massachusetts, there are many different sources of tax revenue. Irrespective of the source, however, taxes are always levied in amounts determined by the relevant laws. Usually, taxes are calculated as a percentage of something, such as income or home value. Sometimes, however, they are simply collected as a flat fee (usually in exchange for a license or permit).
Residents of Lexington are legally required to pay their taxes. Failure to do so can result in civil penalties, criminal fines, and even imprisonment.
Sources of Tax Dollars in Lexington, Massachusetts
There are a large number of different sources of tax revenue in Lexington, Massachusetts. They include, among many others, sales tax, licensing fees, and road tolls.
Sales Tax: The sales tax imposed by Lexington is on top of the sales tax collected by the government of . Sales taxes are usually fairly small - about 5-7% at the state level, plus a city sales tax that's usually one percent or less.
Licensing Fees: Lexington 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 similar 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 major roads or bridges. These fees are meant to pay for the upkeep of basic public infrastructure in Lexington, 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 Lexington, Massachusetts Tax Attorney Help?
Tax Law in Lexington, Massachusetts is not simple. Taxes are imposed on a wide range of activities, and the manner in which they're calculated can be very complex. Furthermore, there are usually special tax breaks or exemptions that may or may not apply to you.
So, if you have any questions or problems with your taxes in Lexington, Massachusetts, it's very important to speak with a qualified Lexington tax law specialist.