LOS ANGELES
TAX LAW OVERVIEW
Los Angeles Lawyer - Attorney Search
Network works closely with a network of reputable
Los Angeles tax attorneys and law firms who have proven
experience and expertise in dealing with all legal
issues involving Los Angeles tax law and are committed
to providing the highest quality of competent legal
representation.
If you or someone you know would like to get referred
to a bar certified Los Angeles tax lawyer, contact
us Toll Free at (800) 215-1190 or fill out
our “Find
a Los Angeles Lawyer” form. A qualified
Los Angeles tax lawyer will assist you in resolving
your case efficiently and expeditiously.
Los Angeles tax law involves the taxation of income
and property acquired through personal and professional
efforts. Taxes are basically a governmental charge
upon property value, business transactions, licenses
granting a right or income. These include federal
and state income taxes, county and city taxes on real
property, state and/or local sales tax based on a
percentage of each retail transaction, duties on imports
from foreign countries, business licenses, federal
tax on the estates of persons who have died, taxes
on large gifts and a state "use" tax in
lieu of sales tax imposed on certain goods bought
outside of the state.
The following are explanations of select subjects
included in Los Angeles tax law:
Income
Tax
(Covered in Tax Law)
Income Tax is a tax on an individual's net income,
after deductions for various expenses and payments
such as charitable gifts, calculated on a formula
which takes into consideration whether it is paid
jointly by a married couple, the number of dependents
of the taxpayers, special breaks for ages over 65,
disabilities and other factors. Federal income taxes
have been collected since 1913 when they were authorized
by the 16th Amendment to the Constitution.
Estate Tax
(Covered in Tax Law)
Estate tax is generally a federal tax on the transfer
of a deceased person's assets to his heirs and beneficiaries.
Although a transfer tax, it is based on the amount
in the decedent's estate (including distribution from
a trust at the death) and can include insurance proceeds.
Currently such federal taxation applies to the amount
of an estate above $600,000, or as much as double
that amount if the estate is distributed to a spouse.
Some states have an estate tax, more commonly called
an inheritance tax.
Child Tax Credit
(Covered in Tax Law)
The Child Tax Credit is a federal tax credit worth
up to $600 per child in tax year 2002 and $1,000 in
2003. Families must have dependent children under
age 17 to get it. The Child Tax Credit comes as a
refund from the IRS. The Child Tax Credit is eligible
to families even if they owe no income tax.
All of our Los Angeles tax attorneys and law firms are members in good standing of the California
Bar Association and have been subject to our pre-screening
process so that we may provide you with the best legal
assistance possible. To get referred to a qualified
Los Angeles tax lawyer
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