Tax Lawyers in Lexington
Lexington, Nebraska has to gather taxes from its residents in order to pay for basic services that we've come to expect, like roads and schools.
In Lexington, Nebraska, 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.
You are legally-obligated to pay your taxes in Lexington. If you fail to pay your taxes, without a compelling reason, you are committing a crime, and may end up going to jail as a result.
Sources of Tax Dollars in Lexington, Nebraska
A wide number of activities are subject to taxation in Lexington, Nebraska, creating a considerable range of revenue sources. For example, cities typically impose a sales tax, charge fees for certain licenses, and collect tolls on roads and bridges.
Sales Tax: A sales tax in Lexington is a surcharge added to the price of most goods that are sold by retailers to the general public. The government of further imposes a sales tax, which must be paid in addition to the local tax. Normally, local sales taxes are less than one percent, while state sales taxes are in the 5% range.
Licensing Fees: In Lexington, licenses are required to engage in many different activities, or at least to do so legally. The most prevalent of these are business licenses. While some professions require licenses because the state has an interest in ensuring competence in them (in law and medicine, for instance), many business licenses exist for the primary purpose of gathering revenue, and therefore serve the same purpose as taxes.
Bridge/Road Tolls: Many larger cities in the U.S. charge tolls to enter the city via main highways or bridges. This amounts to a tax paid for the privilege of entering Lexington if it has such toll roads. Besides being a basic source of revenue, these tolls require visitors to the city, who will have many city services available to them while they visit, to pay at least some contribution to these services.
How Can a Lexington, Nebraska Tax Attorney Help?
In Lexington, Nebraska, the laws and regulations that govern the tax system are fairly intricate, even if determining one's tax rate is, in theory, a simple matter. Furthermore, there are many different exemptions, breaks, and deductions that can make the matter even more complex.
Therefore, it's very important that you seek the advice of a knowledgeable Lexington, Nebraska tax attorney if you have any type of issue involving local taxes.