Federal, state, and local governments all collect taxes in a variety of ways. State revenues are comprised of property taxes, sales tax, and certain taxes on businesses. Additionally, states levy extra taxes on items such as liquor, tobacco products, and gasoline. In Texas, for example, gasoline is taxed at 20 cents per gallon, cigarettes are taxed at roughly $2.44 per pack, and games of bingo incur a tax equal to 3 percent of the facility rental. Taxes allow Texas and other states to provide essential services and maintain order. Click on a link below to learn more about Texas tax laws.
Next Steps: Free Case Review
Now that you've learned a little about tax laws in the Lone Star State, you might have additional questions about your personal tax situation such as how to maximize on charitable deductions or whether you have to pay a penalty for not carrying the right health insurance. Let a seasoned tax expert guide you through the Texas tax code and assist you if you are dealing with the IRS. Start today with a free initial evaluation of your tax situation from a Texas tax attorney.