Tax Lawyers in High Point
High Point, North Carolina has to compile taxes from its residents in order to pay for basic services that we've come to expect, like roads and schools.
In High Point, North Carolina, taxes can come from various different sources. However, they are always collected at a rate that has been set by the law. Taxes sometimes come in the form of flat fees, but most of them are collected as a percentage of some larger amount of money, such as the value of a piece of property, or income.
Residents of High Point are legally obligated to pay their taxes. Failure to do so can result in civil penalties, criminal fines, and even imprisonment.
Sources of Tax Dollars in High Point, North Carolina
There are a massive number of different sources of tax revenue in High Point, North Carolina. They contain, among many others, sales tax, licensing fees, and road tolls.
Sales Tax: The sales tax imposed by High Point 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: High Point 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: Most major cities charge a toll to enter them via main roads or bridges. These fees are meant to pay for the upkeep of main public infrastructure in High Point, by imposing a tax on visitors to it. In theory, this means that individuals who visit the city are obligated to contribute to the upkeep of the infrastructure that they will be using while present there.
How Can a High Point, North Carolina Tax Attorney Help?
Tax Law in High Point, North Carolina is sometimes simple. More often than not, however, some wrinkle appears that makes determining one's tax liability more confusing than it probably needs to be. Furthermore, 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 High Point, North Carolina.