Tax Lawyers in Ridgewood
Ridgewood, New Jersey 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 Ridgewood, New Jersey, there are many different sources of tax revenue. Irrespective of the source, however, taxes are always levied in amounts determined by the relevant laws. Normally, 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 Ridgewood 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 Ridgewood, New Jersey
A wide variety of activities are subject to taxation in Ridgewood, New Jersey, creating a massive range of revenue sources. For example, cities normally impose a sales tax, charge fees for certain licenses, and collect tolls on roads and bridges.
Sales Tax: The sales tax imposed by Ridgewood 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: The city of Ridgewood may require business owners to get 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 have tollbooths on all the major roads or highways that go into them. This effectively amounts to a tax paid to enter Ridgewood, ensuring that visitors to the city make at least a small contribution to paying for the city services that they will enjoy while there.
How Can a Ridgewood, New Jersey Tax Attorney Help?
In Ridgewood, New Jersey, many different laws and regulations govern taxes, making the theoretically simple task of determining one's tax liability pretty perplexing. On top of that, there are many different breaks and exemptions that apply to specific types of groups and individuals, further complicating things.
If you have any legal issues with your taxes, you should obtain legal advice from a qualified and reputable tax attorney in Ridgewood, New Jersey.