Minutes 01/10/1995 - Laserfiche WebLink

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TUESDAY, JANUARY 10, 1995 ordinance in line with other jurisdictions. There being no comments from any other persons present, Mayor Adams declared the public hearing closed. Upon motion, duly seconded and by unanimous vote, Council adopted the following Ordinance 95-1: BE IT ORDAINED by the Council of the City of Martinsville, Virginia, in regular session assembled, January 10, 1995, that it dOes~hereby amend the City's 1983 Business, Professional, OccUpational License Tax Ordinance, as follows: ARTICLE I GENERAL PROVISIONS 2. DEFINITION OF GROSS RECEIPTS (d) In the event that the gross receipts for any preceding year do not represent a full twelve months of operation of the business, profession, trade, occupation, vocation, calling or activity, then the gross receipts shall be the estimated gross receipts which would result from a full twelve months of opera- tion. LICENSE TAX, WHEN PAYABLE BEGINNING BUSINESS; CORRECTION OF ESTIMATED GROSS RECEIPTS; EXTENSIONS. (a) All license taxes imposed by this ordinance shall be deemed to be due and payable on or before the 31st day of May of each license year, except as otherwise stated. (b) Every person who during a license year begins a busi- ness, profession, trade, occupation, vocation, calling or acti- vity which requires a business license based on gross receipts shall estimate the amount of gross receipts which will be re- ceived by such business or employment from the date of the com- mencement of such business or employment until the end of the license year or calendar (or fiscal) year, whichever comes first. Such license tax shall be due and payable at the time such business or employment commences. '(c) Whenever a license tax is assessed on the basis of es- timated gross receipts, every erroneous estimate thereof shall be subject to correction, based upon the gross receipts actually received for the year which first reflects a full twelve months of operation. The Commissioner of 'Revenue shall assess such additional license tax found to be due after the close of the license year or the Commissioner shall credit any overpayment against the next license tax due or shall recommend the refunding of the amount of any excess payment made. (d) Upon a written request from anyone liable for a license tax, the Commissioner may, for good cause shown, other than a financial inability to ~ay such tax, extend the time for payment w~hout]genal~y for a ~geriod not exceeding 30 days after ~he due date of such tax.