Wednesday, March 26, 2014
Prior to beginning a full audit program of business licenses, Town Council is offering an amnesty period for five months, ending April 30, 2014. During this period any business that has a current year business license may set up an appointment by calling 851-4207 and have their gross receipts verified by bringing in:
1. their 2012 Federal Tax return
2. or a certified letter from their CPA stating the amount of gross receipts from January 2012 through December 2012.
The amount of gross receipts will be compared to the amount reported to the town for the use in calculating the business license that was issued for 2013. If there has been a clerical error in computing the business license fee, then only the additional fee would be due, the penalty would be waived during the five month amnesty period.
During the five (5) month amnesty period as set forth above, any business now operating and working without a license may become current by applying and paying for the current license and thereby avoiding a penalty fee.
This is important because some people may not realize that they need to have a business license. For instance, anyone receiving rental income from commercial property or from three or more residential living units would require a business license.
Also, anyone who received a 1099 for doing work inside the town limits may need a business license.
If a person is not sure if they need a license, they are encouraged to call and inquire.
At the conclusion of the amnesty period, businesses will be selected for audits. The business license official or other authorized agents will review the reported gross receipts for the current and three prior years. The business owner will be liable for any business license fee and resulting penalties.
If you would like to have your 2013 business license gross receipts reviewed, please call 851-4207 to schedule an appointment.