Tax Lawyers in Freehold
Freehold, New Jersey 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 Freehold, New Jersey, there are various different sources of tax revenue. Irrespective of the source, however, taxes are always levied in amounts decided by the relevant laws. Typically, taxes are calculated as a percentage of something, such as income or home value. Sometimes, however, they are simply collected as a flat fee (usually in exchange for a license or permit).
Residents of Freehold 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 Freehold, New Jersey
Taxes can come from a wide number of sources in Freehold, New Jersey, such as sales tax, administrative/licensing fees, and tolls.
Sales Tax: In Freehold, the sales tax is a tax that's added to the price of goods at the point of sale. Typically, you have to pay a city sales tax on top of whatever sales tax is levied by . Normally, the local sales tax is much smaller than the state tax, which is typically in the area of 5-8%, with the city tax most often being less than one percent.
Licensing Fees: The government of Freehold issues licenses for engaging in a wide number of different activities. Most frequently, they issue business licenses, which business owners must obtain before operating any type of business in city limit. The most important of this process is usually paying a fee. While these taxes are called "fees," instead of "taxes," they are functionally identical, and serve the same purpose (namely, raising revenue).
Bridge/Road Tolls: Some larger cities have tolls set up on every main highway that enters the city. Effectively, this amounts to a fee that you have to pay in order to enter Freehold, if it imposes such a toll. The idea is that visitors from outside the city enjoy many of the protections provided by the city government while they're there (such as protection by the police), and should pay at least a token sum to contribute to those services.
How Can a Freehold, New Jersey Tax Attorney Help?
In Freehold, New Jersey, 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.
Thus, if you have any questions or problems with your taxes in Freehold, New Jersey, it's very important to speak with a knowledgeable Freehold tax law specialist.