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Rates Effective January 1st, 2009
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Business
License Tax Rates
(Per $100 of gross receipts)
Financial, Professional and
Real Estate Services |
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$.58 |
Personal, Business
and
Repair Services |
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$.36 |
| Retail Sales |
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$.20 |
| Contractors |
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$.16 |
| Wholesale Purchases |
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$.09 |
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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. |
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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.
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Business
Personal Property
Rate - $4.25
(Based on 20% of original cost) |
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Machinery
and Tools
Rate - $3.15
(Based on sliding scale: 20% of cost first 5 years,
and 10% of cost after 5 years) |
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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. |
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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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