Each Virginia city and county establishes its own licensing requirements and procedures. But, most counties and cities require the appropriate Virginia business licenses or permits for all businesses, including one-person, home-based operations.

Virginia State Code Section 58.1-3503(17) defines business personal property as all tangible personal property employed in a trade or a business. Businesses are assessed on, but not limited to, office furniture, fixtures, equipment, machinery and tools, and merchants capital.

Section 4-7.2-1. (B) Gross receipts do not include revenues that are attributable to taxable business activity conducted in another jurisdiction within the Commonwealth of Virginia and the volume attributable to that business activity is deductible pursuant to Code of Virginia Sections 58.1-3708 and 58.1-3709.

$10,001- $50,000: $30. $50,001- $100,000: $50. For gross receipts or gross purchases that exceed $100,000, the BPOL tax rate is applied. These rates depend upon the nature of the business, as laid out in the BPOL Ordinance (Fairfax County Code, Section 4-7.2).

Tangible personal property can be subject to ad valorem taxes, meaning the amount of tax payable depends on each item's fair market value. In most states, a business that owned tangible property on January 1 must file a tax return form with the property appraisal office no later than April 1 in the same year.

When and How to Apply for a Business License. All business owners, including owners of home-based businesses, are subject to the BPOL tax. Business owners are required to register their business with the Department of Tax Administration (DTA) within 75 days of beginning business operations in Fairfax County.

Do I need to obtain a contractor's license for every county/city in which I perform work? Yes, if that locality has a business license tax. (State and Counties/Cities are governed by separate regulations). Since each locality sets their own tax rates (not to exceed the State limits) the business license tax will vary.

All businesses operating in the City of Fairfax must apply for an annual license with the Commissioner of the Revenue. Business license taxes are levied annually and are typically based on a business's gross receipts. All new businesses must submit an application within 30 days of the start of operations.

Business Personal Property Tax is a tax assessed on tangible personal property businesses own. This type of property includes equipment, furniture, computers, machinery, and inventory, among other items not permanently attached to a building or land.

Exclusions are deductions from a company's gross receipts that are allowed by the Fairfax County Business, Professional, and Occupational License (BPOL) Ordinance.

More info

In general, tangible personal property is a moveable item that is real, material, substantive, and not permanently affixed to any real property. The New Business Tangible Personal Property Form is intended for first-time filers only.Businesses located in the Town of Clifton,. Herndon, or Vienna are required to file their. To request this information in an alternate format, contact the Department of Tax Administration at. 703-222-8234 option 3, TTY 711. Business license taxes are levied annually and are typically based on a business's gross receipts. Confused about paying business personal property tax in Fairfax City? Read this blog to learn more about this tax before it's too late. List all legal heirs and beneficiaries of assets.

Movable Property In Business In Fairfax

Description

Related forms

Show more info

Form Rating

Form popularity

FAQ

Do all businesses in Virginia need a business license?

What is considered business personal property in Virginia?

What is Section 4 7.2 1 B of the Fairfax County Code?

How much is a business license in Fairfax County?

What is business tangible property return?

Do I need a business license in Fairfax County?

Do I need a business license for every city I work in Virginia?

Does Fairfax VA require a business license?

What is a business personal property tax example?

What are BPOL exclusions in Fairfax County?

More info

Trusted and secure by over 3 million people of the world’s leading companies