Wilkesboro Town Council Passes Gross Revenue Business License Tax

March 15, 2012

As per the advice of Mayor Mike Inscore, council members agreed to institute a new Wilkesboro, NC business license fee structure that is aimed at increasing the taxes of business earning more than $500,000 annually.

The Journal Patriot reports on details of the new fee structure. “Under the new plan, the base fee for a business license fee will remain at $50 annually, and businesses with retail sales up to, but not exceeding, $500,000 will not be affected. But larger businesses will be required to pay a flat fee 40 cents per $1,000 in retail sales over $500,000 under the fee structure.”

While there are only 9 local businesses who have current earnings exceeding $500,000, most of them retailers of large national chains, the city is expecting to generate an additional $68,400 in business license revenue with the new tax.

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