Tax Lawyers in Monmouth County
Monmouth County, 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 Monmouth County, New Jersey, there are numerous 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 Monmouth County 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 Monmouth County, New Jersey
There are a considerable number of different sources of tax revenue in Monmouth County, New Jersey. They contain, among many others, sales tax, licensing fees, and road tolls.
Sales Tax: The sales tax imposed by Monmouth County is on top of the sales tax collected by the government of . Sales taxes are typically fairly small - about 5-7% at the state level, plus a city sales tax that's typically one percent or less.
Licensing Fees: Monmouth County issues licenses that are required to legally engage in specific activities. Most frequently, the purpose of these licenses is to raise revenue in the form of fees, making them comparable to taxes. One of the most typical is the business license, which most businesses must obtain before operating.
Bridge/Road Tolls: Many major cities have tollbooths on all the main roads or highways that go into them. This effectively amounts to a tax paid to enter Monmouth County, ensuring that visitors to the city present at least a small contribution to paying for the city services that they will enjoy while there.
How Can a Monmouth County, New Jersey Tax Attorney Help?
Tax Law in Monmouth County, New Jersey is not simple. Taxes are imposed on a wide range of activities, and the manner in which they're calculated can be very complicated. Moreover, there are usually special tax breaks or exemptions that may or may not apply to you.
Thus, it's extremely important that you obtain the advice of a knowledgeable Monmouth County, New Jersey tax attorney if you have any tax law questions.