Tax Lawyers in Minneapolis
To pay for basic services like police, schools, firefighters, libraries, and hospitals, the government of Minneapolis, Minnesota collects taxes.
In Minneapolis, Minnesota, taxes are derived from various 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.
Paying your taxes in Minneapolis 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 Minneapolis, Minnesota
Many different things can be taxed in Minneapolis, Minnesota. 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: Generally cities in the U.S., as well as most states, charge a sales tax. In Minneapolis, 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: The city of Minneapolis may require business owners to get a license from the local government before they begin operating within city limits. Typically, the main hurdle involved in obtaining one of these licenses is paying a fee to the city government. Although these payments are called "fees" as opposed to "taxes," they operate in the same way, and serve largely the same purpose, as taxes.
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 main public infrastructure in Minneapolis, 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 Minneapolis, Minnesota Tax Attorney Help?
Tax Law in Minneapolis, Minnesota 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.
If you have any legal issues with your taxes, you should obtain legal advice from a qualified and reputable tax attorney in Minneapolis, Minnesota.