Maryland Tax Lawyers
In Maryland "taxes" are monies taken from persons or corporations by the government, at a rate set by law.
The taxes that Maryland collects pay for basic public services like roads, firefighters, police, courts, schools, and many other benefits that come with living in a modern society.
Everyone who legally resides in Maryland is obligated to pay their taxes. If you don't pay the taxes assessed against you, you are committing a significant criminal offense, punishable by jail time and large fines.
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Sources of Tax Revenue in Maryland
Taxes in Maryland can be derived from a large number of different sources, and in different amounts. The most frequent sources of tax revenue nationwide are Sales Tax, Income Tax, and Property Tax.
Sales Tax: Most states collect a tax on the sales of goods. In Maryland, the sales tax is calculated as a percentage of the sale price of most (but normally not all) items. Technically, the tax is assessed against the sellers of goods. But, the vast majority of vendors pass this tax onto their customers, adding it to the marked price of a product at the point of sale.
Income Tax: In Maryland, the "income tax" is exactly what the name implies: a tax on the income of individuals and corporations. Everybody in the United States has to pay the federal income tax. Therefore, even if the state you live in doesn't have a personal income tax, you are accountable for the federal tax. However, the majority of states have their own income tax, though it's usually much lower than the federal tax. Depending on how much money you make per year, your income will be taxed at a rate ranging from 10% to 33%.
Property Tax: The property tax in Maryland is applied to every owner of real property (land and buildings). The state collects from every property owner a percentage of the property's value, on an annual basis. The state first calculates the value of every piece of property within its territory. It then notifies the owner of this assessment, and sometimes gives them an chance to contest it (evidently, people want their assessed property value to be as low as possible, so it will be subject to the lowest tax possible). Usually, the property tax is paid as a monthly payment, sometimes included in one's mortgage.
How Can A Maryland Tax Lawyer Help?
Everybody in Maryland who engages in any form of economic activity, whether it's working at a grocery store, or owning one, is going to have to pay taxes.
Tax Law in Maryland can get fairly difficult. In fact, many lawyers in Maryland who practice tax law specialize in that field, and don't practice any other area of law. This should give you a sense of how complicated tax issues can become. Thus, if you have any legal issue that involves your taxes in Maryland, you should consult with an accomplished tax lawyer ASAP.
Maryland is situated in the Mid-Atlantic region of the U.S. The state is named after Queen Henrietta Maria of France. Its nicknames are the Chesapeake Bay State, the Free State, and the Line State. Occasionally it is called "America in Miniature" due to its diverse range of geographical features. Maryland's capital is Annapolis, which is also where the U.S. Naval Academy is located.
Maryland's court system is often referenced for its one-of-a-kind characteristics. For example, the highest court is not named "the Supreme Court", but rather, the Maryland Court of Appeals. The Court of Appeals is also unique because all the judges wear red robes with white-colored British style collars, instead of the more common black robes. This is believed to be carried over from British legal tradition, where judges often wore red in association with royal functions.
Maryland is considered by many to be one of the most environmentally conscious states in the nation. It consistently ranks well in terms of energy, toxic waste, and emissions. This is often reflected in the state's laws and zoning regulations. Maryland is part of the Regional Greenhouse Gas Initiative, which is formed by all Northeastern U.S. states in efforts to reduce greenhouse emissions.
Lawyers in Maryland help clients by filing lawsuits, providing legal advice, and reviewing legal documents. Maryland lawyers are available to assist clients in all kinds of legal fields, and many specialize in specific areas of law. Attorneys in Maryland can help make the legal process more understandable.