The privilege license tax is an excise tax levied on the privilege of
conducting a particular trade or business in the City. The City may levy
a reasonable privilege license tax on any business activity unless a tax
on a particular activity is either limited or prohibited by one of the
provisions listed in NC
General Statute §160A-211 or some other statue.
Anyone wishing to operate a business or do business within the City limits
is required to have a privilege license. This license grants business owners
the permission to operate and conduct business within the City Limits.
The license is issued after a brief
application is filed with the Tax office.
The fees for privilege licenses are based on the type of business that
is to be operated and annual gross sales or receipts (see schedule below). Fees are collected annually each year in July. Any fees not paid during
the month of July will be assessed late penalties.
Gross Receipt Schedule
Annual Gross Sales or Receipts from July 1st through June 30th:
$0 to $100,000 Fee: |
$50 minimum |
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|
$100,000 to $1,000,000 Fee: |
$0.50 per $1,000 gross receipts, or part thereof, over $100,000 |
|
|
Over $1,000,000 Fee: |
$500 plus $0.35 per $1,000 gross receipts, or part thereof,
over $1,000,000 |
