While the rest of the state collects estate tax, Utah does not collect at the state level. But prior to Jan 1, 2005, Utah collects a separate estate tax at the state level. It was coined as a “pick up tax” or a “sponge tax”. This particular tax is a state tax that is collected based on the tax credit on the state estate tax.
The estate tax prior 2005
Each state before January 2005, had different tax laws on the pick-up tax, therefore, the amount that is also collected varies because it was based on the state’s estate tax laws. In short, the total tax collected goes to the IRS and the state taxing authority and not purely to the state where they estate tax was collected.
Understanding the reforms in the estate tax here in Utah can be confusing even to the residents. However, to there is no need to fret because there are Utah tax attorney that can of assistance when it comes to real estate tax. Defining what the law is and how you can fully understand it is the expertise of a tax lawyer in Utah. It is, therefore, just to hire someone who is from Utah or has a law firm in Utah to have a seamless process.
The Advantage When An Expert Is Picked
The tax cases in Utah are best resolved by a legal representative who is well versed of the law. Although some of the tax cases vary, from a simple or a complicated court battle, but a Utah based lawyer or a local attorney provides assistance without regard to the severity of the case.
When tax issues occurs, it is a tax attorney who can resolve the issue. This kind of specialty in the judicial branch is more focused on tax and issues about income, property and federal tax. In additional these lawyers are more adept to the rules of the IRS and the recent changes in the tax. Also, the tax lawyer assists their clients to develop plans to resolve the pressing financial problems that their clients are currently facing.
The benefits of hiring a tax attorney
Hiring a tax attorney unburden you with the workload concerning the tax issues. Yes, this can be tedious battle in the court but your lawyers can help communicate and negotiate with the federal or local government. In additional, the legal representative has to do all the research, evaluation and assessment of the complicated tax issues on hand. As the US government continues to tighten up its belt and to go after individuals who violate the laws concerning tax, these lawyers continue to work in behalf of their clients to rectify the mistakes and to come up with a win-win resolution of the case.
To conclude, when you have some tax issues here in Utah, it is best to have a Utah tax attorney to help you with the case. Although the door is open to hiring a lawyer from a neighboring state but a lawyer who hails from Utah or a practicing lawyer in Utah have the advantage because they already know the rules of the state.