Tax Lawyers in Taos
Taos, New Mexico has to collect taxes from its residents in order to pay for basic services that we've come to expect, like roads and schools.
In Taos, New Mexico, there are many different sources of tax revenue. Irrespective of the source, however, taxes are always levied in amounts determined by the relevant laws. Usually, 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).
Everyone in Taos is required by law to pay the taxes they owe. If you fail to do this, you could end up facing jail time.
Sources of Tax Dollars in Taos, New Mexico
There are a large number of different sources of tax revenue in Taos, New Mexico. They include, among many others, sales tax, licensing fees, and road tolls.
Sales Tax: In Taos, there may be a sales tax on top of the sales tax imposed by the government of . City sales taxes are usually pretty small, usually in the range of one percent or less, as opposed to the 5-7% sales taxes imposed by most states.
Licensing Fees: Taos issues licenses that are required to legally engage in certain activities. Most often, the purpose of these licenses is to raise revenue in the form of fees, making them similar to taxes. One of the most common is the business license, which most businesses must obtain before operating.
Bridge/Road Tolls: Many larger cities in the U.S. charge tolls to enter the city via major highways or bridges. This amounts to a tax paid for the privilege of entering Taos if it has such toll roads. Besides being a general 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 Taos, New Mexico Tax Attorney Help?
Tax Law in Taos, New Mexico is not simple. Taxes are imposed on a wide range of activities, and the manner in which they're calculated can be very complex. Furthermore, there are usually special tax breaks or exemptions that may or may not apply to you.
Therefore, it's extremely important that you obtain the advice of a qualified Taos, New Mexico tax attorney if you have any tax law questions.