Century to Drastically Increase Business License Tax Rates

Town officials proposed an ordinance yesterday that would more than double Century, FL business license rates. The town had until now been charging a standard $25 business tax rate to all local businesses.

New business tax rates will vary based on the different types of businesses; with the average business license service fee estimated at $55. Although Florida business license fees are called business taxes the charges proposed for Century, FL are fixed and not based on a company’s gross receipts.

The new charges are not expected to generate too much revenue for the small town as NorthEscambia.com reports that, “there were 56 companies and individuals that held a business license in Century, generating only about $1,400 per year in revenue.”

Anyone found operating a business without paying the necessary Century business taxes will be subject to a minimum $250 fine.

The ordinance will be subject to approval at a public hearing before it can be passed. If the ordinance does pass, the new fees will be effective for the new fiscal year starting October 1, 2011.

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