Tax Lawyers in Portsmouth
Basic services in Portsmouth, Virginia, like roads, police, and schools, are paid for by compiling taxes from residents.
Taxes in Portsmouth, Virginia can come from a wide variety of sources, but they are always collected at a rate set by law. Sometimes, taxes might come in the form of flat fees, and other times they are collected as a percentage of something, such as a person's income or the value of a piece of property.
Paying your taxes in Portsmouth is not optional. It is required by law. If you don't pay your taxes, you could face stiff fines, and even jail time.
Sources of Tax Dollars in Portsmouth, Virginia
Taxes can come from a wide variety of sources in Portsmouth, Virginia, such as sales tax, administrative/licensing fees, and tolls.
Sales Tax: In Portsmouth, there may be a sales tax on top of the sales tax imposed by the government of . City sales taxes are normally pretty small, normally in the range of one percent or less, as opposed to the 5-7% sales taxes imposed by most states.
Licensing Fees: In Portsmouth, licenses are required to engage in many different activities, or at least to do so legally. The most frequent of these are business licenses. While some professions require licenses because the state has an interest in ensuring competence in them (in law and medicine, for instance), many business licenses exist for the primary purpose of compiling revenue, and therefore serve 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, Virginia Tax Attorney Help?
Tax Law in Portsmouth, Virginia is not simple. Taxes are imposed on a wide range of activities, and the manner in which they're calculated can be very difficult. Additionally, 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 reliable Portsmouth, Virginia tax attorney if you have any tax law questions.