January and February are some of the most stressful times for small business owners. It’s tax time and they have to spend hundreds of dollars paying tax professionals to file their business tax return, not to mention the countless hours taken away from their core business preparing the documents needed to file.
What most WJCC residents don’t realize is that every single business in the city and county pay what is called “Business License Tax“. How bad could this be you may ask? It’s just a fee for having a business in the county or city right? Yes, that’s exactly what it is. A fee for simply running a business. What most people don’t realize however, is that the amount you pay in business license tax each March 1st is directly tied to your chosen industry and how much money your business lists in its gross receipts each year. Want to know how many taxes you are subjected to as a small business? Just visit the Williamsburg City web site and find out just how onerous the process can be.