New York Tax Lawyers
In New York "taxes" are monies taken from persons or corporations by the government, at a rate set by law.
The taxes that New York collects pay for necessary public services like roads, firefighters, police, courts, schools, and many other benefits that come with living in a modern society.
Everyone who legally resides in New York is obliged to pay their taxes. If you don't pay the taxes assessed against you, you are committing a significant criminal offense, punishable by jail time and large fines.
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Sources of Tax Revenue in New York
Taxes in New York can be derived from a large number of different sources, and in different amounts. The most typical sources of tax revenue nationwide are Sales Tax, Income Tax, and Property Tax.
Sales Tax: Most states collect a tax on the sales of goods. In New York, the sales tax is calculated as a percentage of the sale price of most (but typically not all) items. Technically, the tax is assessed against the sellers of goods. But, the vast majority of vendors pass this tax onto their customers, adding it to the marked price of a product at the point of sale.
Income Tax: Income tax is, as the name implies, a tax on income. Everybody in the U.S., including in New York, has to pay the federal income tax. Most states also have their own income tax. You are further legally obliged to pay the income tax of your state, though the state income tax rates are considerably lower than the federal rate. The federal tax rate ranges from 10% to 33% of taxable income. Obviously, those with a higher income are taxed at a higher rate, for the most part.
Property Tax: In New York, a property tax only applies to people who own real estate (land or houses). Typically, the state appraised (estimates the value of) every piece of real estate under its jurisdiction. It then imposes on owners an annual tax calculated as a percentage of the property's appraised value. Property tax can be paid in various ways, but many people have arrangements authorizing them to pay their property taxes in manageable monthly installments, right alongside their mortgage payments. Sometimes, the mortgage and tax can be bundled into a single payment.
How Can A New York Tax Lawyer Help?
If you participate in the economy of New York, whether it's by running a business, earning a wage, or owning property, you're likely to have some tax commitments.
In New York, tax law is very confusing. Most tax attorneys actually don't practice any other area of law in New York, which should give you some idea of how involved tax cases can become. If you have a tax question, or are facing an audit on your state or federal taxes, you should not delay to contact a New York tax attorney to help.
New York is situated in the Northeastern region of the U.S. Nicknamed "The Empire State", New York was historically considered the "gateway" into the United States. New York life captures much of the classic American dream, as the state is often equated with opportunity and success. New York has the third highest population of all U.S. states.
New York's court system is officially named The New York State Unified Court Systems. For some people, navigating New York's court system can be challenging- New York uses different terminology in naming their courts as compared to other states. For example, New York's trial courts are called "Supreme Courts" instead of Superior Courts. Also, the highest court is the Court of Appeals, whereas in other states the highest court is usually named the Supreme Court of the State.
In addition, New York maintains a number of "problem-solving" courts. These offer additional measures for cases involving drugs, mental health issues, and repeat offenses. Such programs reflect New York's role as an innovator in the fields of jurisprudence and lawmaking. New York has produced a number of U.S. Supreme Court Justices, including Benjamin N. Cardozo, Sonia Sotomayor, Ruth Bader Ginsburg, Antonin Scalia, and Chief Justice John Roberts.
New York's body of laws is one of the most complex in the U.S. Thus, lawyers in New York state are required to pass one of the most difficult bar exams in the country. New York lawyers offer legal expertise in all kinds of legal topics.