Tax Lawyers in Narragansett
Taxes in Narragansett, Rhode Island are collected out of necessity. They pay for basic public services, which most of us take for granted.
In Narragansett, Rhode Island, taxes can come from numerous different sources. However, they are always collected at a rate that has been set by the law. Taxes sometimes come in the form of flat fees, but most of them are collected as a percentage of some larger amount of money, such as the value of a piece of property, or income.
In case you were wondering, paying your taxes in Narragansett is mandatory. The law states it. So, if you don't pay your taxes, with extremely few exceptions, you are guilty of a crime, and will be punished accordingly.
Sources of Tax Dollars in Narragansett, Rhode Island
There are a considerable number of different sources of tax revenue in Narragansett, Rhode Island. They contain, among many others, sales tax, licensing fees, and road tolls.
Sales Tax: In Narragansett, the sales tax is a tax that's added to the price of goods at the point of sale. Typically, you have to pay a city sales tax on top of whatever sales tax is levied by . Normally, the local sales tax is much smaller than the state tax, which is typically in the area of 5-8%, with the city tax most often being less than one percent.
Licensing Fees: The city of Narragansett 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: 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 Narragansett, 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 Narragansett, Rhode Island Tax Attorney Help?
In Narragansett, Rhode Island, many different laws and regulations govern taxes, making the theoretically simple task of determining one's tax liability pretty complicated. On top of that, there are many different breaks and exemptions that apply to specific types of groups and individuals, further complicating things.
Therefore, it's very important that you seek the advice of a knowledgeable Narragansett, Rhode Island tax attorney if you have any type of issue involving local taxes.