Breaking News: Updates on Business License Taxes and State Income Taxes

All businesses operating within the City of Lynchburg must secure a license by Wednesday, May 1. The fee for the business license is determined by the amount of gross receipts or purchases. It is important to note that the City of Lynchburg does not issue business licenses for businesses with gross receipts or purchases totaling $150,000 or less.

For businesses with gross receipts or purchases greater than $150,000, the following fee schedule applies:
– Retail merchants are charged 19 cents per $100 of gross receipts
– Contractors are charged 15 cents per $100 of gross receipts
– Business/personal service providers are charged 34 cents per $100 of gross receipts
– Professional service providers are charged 55 cents per $100 of gross receipts
– Wholesale merchants are charged a flat fee of $20 plus 26 cents per $100 of gross purchases

In addition to obtaining a business license, State income taxes are also due by Monday, May 1. The Commissioner of the Revenue Office, located at 900 Church Street in City Hall, offers free assistance with State income tax filing to residents of Lynchburg. Simply bring a copy of your completed Federal tax return, W2s, and any supporting documents to the office and a staff member will help you complete your State return. No appointment is necessary for this service.

For further information or assistance, you can contact the Commissioner of the Revenue Office at 434.455.3870.