Vermont Tax Lawyers

Locate Vermont Tax Lawyers

In Vermont "taxes" are monies taken from individuals or corporations by the government, at a rate set by law.

The taxes that Vermont 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 Vermont is obliged to pay their taxes. If you don't pay the taxes assessed against you, you are committing a severe criminal offense, punishable by jail time and large fines.

Sources of Tax Revenue in Vermont

Taxes in Vermont 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 Vermont, 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. However, 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. Everyone in the U.S., including in Vermont, has to pay the federal income tax. Most states also have their own income tax. You are also 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 Vermont, a tax is imposed on every piece of privately-owned land, including residential lots. The state simply appraises every piece of property in its territory, then taxes the owner a percentage of the property's value. Normally, the assessed (taxable) value of the property is considerably less than its market value. To avoid paying a large property tax bill at the end of each year, most homeowners pay it in monthly installments, frequently as part of their mortgage payment.

How Can A Vermont Tax Lawyer Help?

Everyone in Vermont who receives or owns anything of value, whether it's by selling goods, working for a salary, or investing, is going to have to pay at least some taxes.

In Vermont, tax law can get pretty intricate. There are lawyers in Vermont who only practice tax law, and nothing else. This should impress upon you the fact that taxes are governed by a large and complex body of laws. For that reason, if you have an issue with your state or federal taxes in Vermont, such as an audit, you should not hesitate to speak with a knowledgeable tax attorney.

Interesting Facts About Vermont

The state of Vermont is known as one of the more historic places in the U.S. As the 14th state to join the Union, Vermont was the first state apart from the 13 original colonies. Vermont rich in natural resources and its economy is supported by industries like manufactured goods and tourism.

One of Vermont's most important laws is the Land Use and Development Law of 1970 ("Act 250"). Act 250 creates nine separate environmental commissions whose task is to review any land development projects that might impact the natural environment. This law was the first of its kind in the U.S. and has helped to preserve much of Vermont's natural scenery.

In addition to its environmental laws, Vermont also has some very unique laws in the areas of alcohol control, trespass, gun control, and other fields. For example, in Vermont, a person has the right to walk, fish, or hunt on any unposted/unfenced land (trespass is not automatically assumed). Also, concealed and open carry of firearms is allowed for persons without a license, so long as they are over 16 years old. Vermont was also the first state to legalize same-sex marriage through the passage of legislation rather than through the courts.

Lawyers in Vermont have much experience in dealing with the state's distinct body of laws. A Vermont lawyer can provide valuable assistance when it comes to drafting documents, providing legal advice, and other tasks. Attorneys in Vermont also represent clients through the state's multi-tiered court system.