North Carolina Tax Lawyers

Locate North Carolina Tax Lawyers

In North Carolina "taxes" are monies taken from persons or corporations by the government, at a rate set by law.

The taxes that North Carolina 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 North Carolina is obligated to pay their taxes. If you don't pay the taxes assessed against you, you are committing an egregious criminal offense, punishable by jail time and large fines.

Sources of Tax Revenue in North Carolina

Taxes in North Carolina 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 North Carolina, 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 North Carolina, 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: Along with mortgage payments, property taxes in North Carolina are one of the largest expenses associated with home ownership. In order to gather property taxes, the state or local government appraises the value of every privately-owned piece of real estate in its jurisdiction. It then collects a particular percentage of that value in taxes. In order to avoid having to pay a large tax bill at the end of each year, most people elect to pay their property taxes in monthly installments.

How Can A North Carolina Tax Lawyer Help?

If you engage in any economic or commercial activity in North Carolina, such as working, selling products, owning property, or something else, it's a near certainty that you are going to have some tax liability.

Tax Law in North Carolina can get extremely difficult. It is so complex that most tax attorneys in North Carolina practice tax law exclusively, eschewing all other practice areas. So, this specialization means that most tax lawyers are experts in their fields. It should go without saying, then, that a North Carolina tax lawyer can be invaluable if you have an issue with your taxes.

Interesting Facts About North Carolina

North Carolina began as one of the nation's oldest settlements. Today it consistently ranks as the fastest growing state in the country. It has made considerable changes to its economy, moving from a tobacco production state to a more diversified base consisting of biotechnology and engineering industries. Mt. Mitchell, the highest point in the Eastern U.S., can be found in North Carolina.

One North Carolina's main features is the Law and Justice Building, located in the capital city of Raleigh. The Law and Justice Building is home to the North Carolina Supreme Court the Administrative Office of the Courts. Up until the year 1940, North Carolina was the only Supreme Court in the U.S. where the justices presided over cases wearing street clothes.

Other important courts in the state of North Carolina include the District Courts, Superior Courts, and the Court of Appeals. Most lawyers in North Carolina file claims at either the District Court level or through the Superior Court. Depending on the type of claim involved, North Carolinas must research a mix of state statutes and North Carolina case law.

Lawyers in North Carolina are able to help clients with a wide range of legal concerns. North Carolina lawyers can also provide expert advice on matters involving unique state or local laws. Attorneys in the "Tar Heel State" often participate in community events and forums.