Palm Beach State Tax Attorney

Palm Beach State Tax Lawyer

Taxpayers in Palm Beach have to consider local, state, and federal tax responsibilities. State and local taxes are managed by the Florida Department of Revenue (DOR). Both individual and corporate taxpayers have to pay their taxes, or they can face fines, penalties, and even charges. Working with a Palm Beach state tax attorney can help people like you manage tax obligations and address complex issues like audits, fines, and disputes with the DOR.

Hire a State Tax Attorney in Palm Beach

The team at TaxSmith, LLC, has spent over a decade supporting taxpayers in our communities. We know that state tax laws can be confusing and frustrating. Our goal is to help you understand these laws and how they apply to you, answer your questions, and navigate your tax issues. We offer transparent and personalized tax advice, and we never promise unrealistic results. Our team works to find the right and realistic solution.

Certain issues with the DOR, like debt settlement or audit disagreements, are better handled in person. There is a DOR Service Center located in West Palm Beach, at 2468 Metrocentre Boulevard. Our firm can help you prepare for a discussion about an issue, or we can directly represent you.

Planning Your State Taxes in Palm Beach

You can face fines and other penalties if you fail to file your state taxes on time and accurately. In order to avoid these penalties and other issues with the DOR, it is useful to plan ahead. When you aren’t dealing with complex tax issues at the last minute, you are more likely to avoid costly mistakes. Some important preparation considerations include:

• Record keeping and organization. Financial, employment, personal, and tax records need to be organized, accurate, and dated. This ensures everything is prepared when it is time to file your taxes.
• Understanding your tax situation. You want to know what your tax bracket is, assess what deductions or credits you are eligible for, review retirement account contributions, and use tax-advantaged accounts. This helps you get the most benefits from your legal tax avoidance options.
• Plan ahead for life changes. There are many life-changing events that can affect your finances, employment, and taxes. This includes marriage, divorce, growing your family, buying a home, or getting a promotion. By planning for these changes, you can prepare for negative tax implications or even prevent them.

You need to know and plan for your tax liabilities. The Florida DOR collected nearly $65.5 billion in state and local taxes from 2024 to 2023, $7 billion of which was from local taxes. The local option sales tax in Palm Beach County made up nearly $85.9 billion of this collection. The agency takes tax collection seriously.

When you hire a state tax attorney, they help you meet these obligations and can also assist in avoiding mistakes when filing your taxes. This can save you money in the long term.

Understanding Florida State Taxes

There are many taxes that residents and businesses have to pay to the DOR. Some of the main ones include:

• Sales tax. There is a statewide sales tax of 6%. In Palm Beach County, there is a discretionary sales surtax of 1%, making the Palm Beach sales tax total 7%. This 1% surtax expires on December 31st, 2026. Certain goods have a different sales tax throughout the state, such as electricity, amusement machine receipts, and new mobile homes.
• Use tax. The sales tax applies even when the goods were transported into the state. Taxpayers are responsible for reporting this and paying it to the DOR if it is not charged at purchase.
• Corporate income tax. Businesses operating in Florida and earning income in the state have a set corporate income tax. It is a percentage of their gross income.
• Property tax. Individual and commercial property owners must pay property taxes. The amount of these taxes depends on the value of the property and the taxes in the city or county where the property is located.

There are several taxes that Florida doesn’t have that many other states do, such as personal income taxes, estate taxes, inheritance taxes, and intangible taxes.

FAQs About Palm Beach, FL State Tax Law

Can Anyone Be Exempt From Paying Taxes?

Typically, there is no one who is exempt from paying taxes. Most residents in Florida have to consider state taxes like sales and property taxes. In addition, there are federal taxes to consider, like income taxes. There is no personal income tax in Florida, and those with an income under a set threshold are not required to file a tax return for federal taxes. If you are unsure of your tax obligations, it can help you talk with an attorney.

Is Florida a Tax-Friendly State for Retirees?

Florida is generally considered a tax-friendly state for retirees, due to the lack of income tax, which also impacts retirement or pension benefits. There are also additional homestead exemptions for those 65 and older who have their primary residence in the state, which can have additional financial benefits. Retirees also face no inheritance or gift tax in Florida, which can make it easier to seamlessly transfer property to their loved ones.

What Pensions Are Not Taxable in Florida?

Because Florida has no income tax, all pensions are not taxable at the state level. No matter your type of retirement income, it is tax-free in Florida. However, income and pensions may be taxable at the federal level. Retirement income is likely to be taxed federally unless it is a qualified distribution from a Roth account dedicated to this purpose.

Does Florida Have a Property Tax on Vehicles?

There is no property tax on vehicles in Florida. Instead, property tax applies to homes and other real estate and property. Vehicles are usually excluded from the tangible personal property tax. While there is no property tax, Florida has a sales tax for vehicles, as well as fees for driver’s licenses, vehicle registration, and vehicle titles. Generally, these fees must be renewed regularly.

Find a Skilled Palm Beach State Tax Lawyer

There are many issues that any taxpayer may face with the DOR, like a sudden audit, financial penalties, collection actions, and even investigations for fraud or evasion. At TaxSmith, LLC, we can help with these complex situations. We can also help you prepare your taxes to avoid these issues in the future. Reach out to our team today.