Tax Lawyers in Portsmouth
Taxes in Portsmouth, Rhode Island are collected out of necessity. They pay for basic public services, which many of us take for granted.
In Portsmouth, Rhode Island, taxes can come from many 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 Portsmouth is mandatory. The law requires it. So, if you don't pay your taxes, with very few exceptions, you are guilty of a crime, and will be punished accordingly.
Sources of Tax Dollars in Portsmouth, Rhode Island
There are a massive number of different sources of tax revenue in Portsmouth, Rhode Island. They include, among many others, sales tax, licensing fees, and road tolls.
Sales Tax: In Portsmouth, the sales tax is a tax that's added to the price of goods at the point of sale. Normally, you have to pay a city sales tax on top of whatever sales tax is levied by . Usually, the local sales tax is much smaller than the state tax, which is normally in the area of 5-8%, with the city tax most often being less than one percent.
Licensing Fees: The city of Portsmouth 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 large cities in the U.S. charge fees, or tolls, on automobiles entering the city via public bridges and highways. This money is, more or less, a tax on everyone who drives into Portsmouth via public infrastructure. This means that everyone who visits is required to make at least a small contribution to the government services they'll be using while there.
How Can a Portsmouth, Rhode Island Tax Attorney Help?
Tax Law in Portsmouth, Rhode Island is sometimes simple. More often than not, however, some wrinkle appears that makes determining one's tax liability more perplexing than it probably needs to be. Additionally, many individuals and groups are legally entitled to tax breaks and deductions, which can make figuring out one's tax liability even more difficult.
Therefore, it's necessary that you obtain the counsel of a qualified tax lawyer in Portsmouth, Rhode Island if you think that you might need help with your local taxes.