Tax Lawyers in Paterson
Paterson, 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 Paterson, New Jersey, there are several different sources of tax revenue. Irrespective of the source, however, taxes are always levied in amounts determined 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 Paterson are legally required to pay their taxes. Failure to do so can result in civil penalties, criminal fines, and even imprisonment.
Sources of Tax Dollars in Paterson, New Jersey
There are a considerable number of different sources of tax revenue in Paterson, New Jersey. They include, among many others, sales tax, licensing fees, and road tolls.
Sales Tax: Typically cities in the U.S., as well as most states, charge a sales tax. In Paterson, the sales tax is calculated as a percentage of the sale price of most goods and services. The rate varies from state to state, and city to city.
Licensing Fees: The city of Paterson may require business owners to acquire a license from the local government before they begin operating within city limits. Typically, the main hurdle involved in obtaining one of these licenses is paying a fee to the city government. Although these payments are called "fees" as opposed to "taxes," they operate in the same way, and serve largely the same purpose, as taxes.
Bridge/Road Tolls: Most major cities charge a toll to enter them via major roads or bridges. These fees are meant to pay for the upkeep of general public infrastructure in Paterson, by imposing a tax on visitors to it. In theory, this means that people who visit the city are required to contribute to the upkeep of the infrastructure that they will be using while present there.
How Can a Paterson, New Jersey Tax Attorney Help?
In Paterson, 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. Additionally, there are many different exemptions, breaks, and deductions that can make the matter even more complex.
Therefore, it's imperative that you obtain the counsel of a qualified tax lawyer in Paterson, New Jersey if you think that you might need help with your local taxes.