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July 20, 2010
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Welcome to Baltimore City Tax Attorneys.com

 

 
Did You Know?    
 
 
Form 8308 is Report of a Sale or Exchange of Certain Partnership Interests
Report the sale or exchange by a partner of all or part of a partnership interest where any money or other property received in exchange for the interest is attributable to unrealized receivables or inventory items.

 



Tax Law is divided into both Federal Tax and State Tax, and involves the taxation of income and property acquired through personal and professional efforts. In addition to income tax, there is sales tax, gift tax, inheritance tax, capital gains tax, property tax, and a myriad of other areas of tax.

 
Tax collections shown for various States    
 
 
Amounts include adjustments to prior years made in Fiscal Year 2004. This could produce negative amounts of collections shown in the table.However, in a given fiscal year, refunds relating to prior fiscal years may be issued and subsequently recorded, and, therefore, the total refund amount may exceed the collection amount [Money amounts are in thousands of dollars.] in Maryland
Total Internal Revenue collections [2] 40,893,427
Corporation income tax [3] 2,361,572
Total [4,5] 37,772,869
Income tax not withheld and SECA tax [4,5] 6,057,795
Income tax withheld and FICA tax [4] 31,577,471
Railroad retirement tax 12,963
Unemployment insurance tax 124,640
Estate Tax 553,084
Gift Tax 20,946
Excise Taxes[2] 184,956

Source: Data 2004, Chief Financial Officer, Revenue Financial Management
 

Federal Income tax became law in 1913 when the Sixteenth Amendment to the U.S. Constitution was ratified. While some states do not have an income tax, all residents and citizens of the United States are subject to federal income tax. The more assets an individual owns, unfortunately, the more complicated the tax law becomes.

Congress writes the tax laws, which become part of the tax code. The Internal Revenue Service (IRS) is charged with interpreting the tax code. The IRS is a branch of the U.S. Treasury Department, with headquarters in Washington, D.C., and is ruled by a commissioner appointed by the President. Regional commissioners and district directors, also political appointees, oversee IRS operations.

Our Baltimore Taxation Lawyers are willing to work for you. They can explain in detail the complex state and federal tax laws that affect you and your case. If you expect a high standard of quality from your legal representatives, then our Baltimore Taxation Lawyers are the lawyers for you.

Taxation and Tax Law related topics:

  • Income Tax Cases
  • Recent Estate & Gift Tax Cases
  • Recent Income Tax Cases
  • State Statutes Dealing with Taxation
  • Corporate Taxation
  • International Taxation

Contact our Baltimore Taxation Lawyer Now!

 
Baltimore Audio & Video    
 
  Senate Republicans Seek End to Estate Tax
AUDIO, RM, 44Kbps, 7:08, 7/28/2005

The Senate is expected to vote this week on a proposal to repeal the estate tax. The tax has been in place for nearly a century. But times have changed and estate tax opponents are predicting victory
Source: NPR
 
 
Baltimore External Sites    
 
 

Maryland State Income Tax Information
The Maryland state income tax formula contains a computation for Maryland county tax. ... Nonresidents of Maryland pay only the state income tax. ...
Maryland Counties Income Tax Information
Do not process a county tax document for Maryland county tax. The Maryland state income tax formula contains the computation for Maryland county tax,

 


 

  Newsroom  
 


News about Taxation cases in Baltimore and nationwide:

Chicago Attorney Sentenced To Prison For Tax Evasion
Robert Wayne Hallock, an attorney from Chicago, Ill., was sentenced today in federal court for attempting to evade taxes on more than $1 million in...
Read more >


IRS Announces Standard Amounts for Telephone Tax Refunds
WASHINGTON — The Internal Revenue Service today announced the standard amounts that most long-distance customers can use to figure their telephone ...
Read more >


Linder To Address Americans For Fair Taxation National Convention In Atlanta

Linder To Address Americans For Fair Taxation National Convention In Atlanta

Duluth, Georgia - Congressman John Lind...

Read more >


More Taxation News >

 
 

Taxation Terms

 


Today's Terms

Federal Insurance Contributions Act (FICA) Tax

Definition:
Provides benefits for retired workers and their dependents as well as for disabled workers and their dependents. Also known as the Social Security tax.

Federal income tax

Definition:
The federal government levies a tax on personal income. The federal income tax provides for national programs such as defense, foreign affairs, law enforcement, and interest on the national debt.

Limited Liability Company

Definition:
An LLC may be classified for Federal income tax purposes either as a partnership, a corporation, or an entity disregarded as an entity separate from its owner by applying the rules in Regulations section 301.7701-3. See Form 8832, Entity Classification Election, for more details.

More Taxation Terms >

 

Tax Legal Resources

 


Search Taxation legal resources in our resource center:

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Taxation Hot Topics

 
Topics Related to Taxation Law:
  • Income Tax Cases
  • Recent Estate & Gift Tax Cases
  • Recent Income Tax Cases
  • State Statutes Dealing with Taxation

More Tax Topics >

Baltimore Taxation Attorney

 
If you live in the following cities and need an taxation attorney you should contact our Taxation Attorney as soon as possible:

  • Annapolis
  • Baltimore
  • Capitol Heights
  • Catonsville
  • Columbia
  • Cumberland
  • District Heights
  • Dundalk
  • Elkton
  • Ellicott City
  • Essex
  • Fort Washington
  • Gaithersburg
  • Germantown
  • Glen Burnie
  • Gwynn Oak
  • Hagerstown
  • Hyattsville
  • Lanham
  • Lutherville Timonium
  • Middle River
  • Nottingham
  • Owings Mills
  • Parkville
  • Pasadena
  • Potomac
  • Rockville
  • Silver Spring
  • Sykesville
  • Temple Hills
  • Upper Marlboro
  • Westminster
 


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