
Rates Effective January 1st, 2009
Business License Tax Rate
(Per $100 of gross receipts)
| Financial, Professional and Real Estate Services |
$.58 |
| Personal, Business and Repair Services |
$.36 |
| Retail Sales |
$.20 |
| Contractors |
$.16 |
| Wholesale Purchases |
$.09 |
The City of Suffolk requires that all persons doing business in this city file for and obtain a business license prior to beginning business. A Business License tax is based upon the gross receipts of the business, with a minimum charge of $50.
Business Personal Property
Rate - $4.25 per $100
(Based on 20% of original cost)
Personal property, other than motor vehicles, used in a trade or business is subject to local taxation as Business Personal Property. Returns are due no later than May 1st for property in use as of January 1 of a tax year.
Machinery and Tools
Rate - $3.15 per $100
(Based on sliding scale: 20% of cost first 5 years, and 10% of cost after 5 years)
Machinery and Tools tax applies to equipment used in the manufacturing and processing of its goods. Returns are due no later than May 1 for equipment in use as of January 1 of a tax year.
Registration for the collection of Meals, Lodging, and Admissions tax is required with the Commissioner of the Revenue's Office prior to beginning business. This tax must be remitted by the 20th day of each month.
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Admissions Tax Rate - 10%
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