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What is a Local Business Tax?
The Business Tax is a tax for the privilege of engaging in or managing any business, profession or occupation within the city limits. In order to operate a business based in the City of West Park, you will need to pay the Business Tax. Whether your business is operated from a commercial location or is home-based, the Business Tax is required pursuant to both local and state laws.
Why is it required to have a Business Tax Receipt?
Licenses are required for three main purposes:
• To identify your business and make sure you are accountable for your actions
• To protect the public health and safety
• To keep track of your finances for tax purposes
What are the benefits for having a Business Tax Receipt?
The City showcases businesses with current Business Tax Receipts in the West Park Community Newspaper. By having records of the types of businesses in the City, the City is able to seek for and make available incentives for local businesses – incentives such as Enterprise Zone opportunities. Businesses within the Enterprise Zone are able to take advantage of:
• EZ Job Tax Credit;
• EZ Property Tax Credit;
• Building Material Sales Tax Refund; and
• Building Equipment Sales Tax Refund.
What about Zoning requirements?
The City is divided into a variety of commercial and residential zones, which groups similar types of uses together. It is important to check to see if the location you choose allows for the type of business you want to do. You may contact the City Building Department for courtesy zoning review for your proposed business.
How much does a Business Tax Receipt cost?
Business Tax Receipt fees vary from one classification to another and many fees are based on variables like “Type of Business” or “cost of inventory.” New business tax receipts are prorated if the business starts on or after April 1. The cost is reduced by 50% of the regular fee.
Do I need just one business tax receipt for my business?
Many businesses operate under more than one of the nearly 200 business tax receipt classifications and are required to have a business tax receipt for each classification. Additionally, each location of a business is considered a separate business and requires separate business tax receipts.
When will my business tax receipt expire?
The business tax receipt year is October 1st – September 30th. All business tax receipts expire pm September 30th.
How do I renew my business tax receipt?
Renewal courtesy notices are mailed August 1 and are due no later than September 30th of each year, to avoid penalties of up to 25%. Failure to receive a notice is not an excuse for nonpayment. Once your payment is received, your tax receipt will be mailed to you. When you receive your tax receipt it must be posted in a conspicuous place, visible for public inspection. Payment can be made by check, credit card and money order for business tax receipts.
For further information, please contact the Permit and Account Analyst at 954-989-2688, Ext. 208.
