In the City of Lynchburg, all businesses must obtain a license by May 1st. The fee for the business license is determined based on the gross receipts or purchases of the business. Businesses with gross receipts or purchases of $150,000 or less do not need to obtain a business license.
For those with higher gross receipts or purchases, a different fee schedule applies: retail merchants pay 19 cents per $100 of gross receipts, contractors pay 15 cents per $100 of gross receipts, and business/personal services pay 34 cents per $100 of gross receipts. Professional services pay 55 cents per $100 of gross receipts, and wholesale merchants pay $20 plus 26 cents per $100 of gross purchases.
It’s important to note that in addition to obtaining a business license by May 1st, state income taxes are also due on that day. Residents of Lynchburg can receive free assistance from the Commissioner of the Revenue Office located at 900 Church Street in City Hall. Simply bring a copy of your completed Federal tax return, W2s, and any supporting documents to the office and someone will assist you in completing your State tax return. No appointment is required for this service.
To ensure smooth operation of their business in Lynchburg, it’s crucial for all businesses to comply with these deadlines and requirements. For more information or inquiries, contact the Commissioner of the Revenue Office at (434) 455-3870.
