Locate Wisconsin Tax Lawyers
In Wisconsin "taxes" are monies taken from individuals or corporations by the government, at a rate set by law.
The taxes that Wisconsin collects pay for basic 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 Wisconsin is obligated 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 Wisconsin
Taxes in Wisconsin can be derived from a large number of different sources, and in different amounts. The most frequent 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 Wisconsin, the sales tax is calculated as a percentage of the sale price of most (but normally 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 Wisconsin, has to pay the federal income tax. Most states also have their own income tax. You are also legally required 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 Wisconsin, 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. Usually, 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, commonly as part of their mortgage payment.
How Can A Wisconsin Tax Lawyer Help?
Everyone in Wisconsin 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.
Tax law issues in Wisconsin are never simple. In fact, most tax attorneys ONLY practice tax law in Wisconsin, because tax law is so convoluted that an attorney pretty much has to specialize in it. This has the advantage of creating a situation where every competent tax attorney is practically an expert in tax law, because they have to be. If you have a problem with your taxes, whether state or federal, it is always a good idea to get some advice from a good Wisconsin tax lawyer.
Interesting Facts About Wisconsin
Wisconsin claims most of the nation's milk and dairy production, most notably its cheese production. Wisconsin residents often embrace the state's nickname of "America's Dairyland" by wearing foam "cheese hats" at Green Bay Packer games and other sporting events. Interestingly, the iconic cheese hats are legally considered to be a hat. Wisconsin is also known for its output in manufacturing and consumer goods.
In its early days, the Wisconsin state legislature created several ground-breaking laws and government procedures. For example the state was the first to implement a statewide primary election procedure, and the first to establish workplace injury compensation laws. Wisconsin also had the first state income tax system based on actual earnings proportions.
More modernly, Wisconsin's law-making legislature has made legislative activity more transparent by providing information on the internet. Three major cities in Wisconsin provide residents with internet access to all public records in the city databases. The Wisconsin Supreme Court also operates a "Justice on Wheels" program, where it travels to different parts of the state to hear cases. This program helps to educate the Wisconsin population on the inner workings of the state's legal system.
Lawyers in Wisconsin handle many different types of legal claims in various fields. Wisconsin lawyers perform such tasks as representing clients in lawsuits, editing legal documents, and issuing legal advice. Many Wisconsin attorneys are experts in specialized legal fields.