Virginia Beach City Council Proposes Bill to Give New Businesses Break on BPOL Tax

Virginia Beach City Council Proposes Bill to Give New Businesses Break on BPOL Tax

On December 7, Virginia Beach City Council unanimously approved a resolution, proposed by Councilwoman Rosemary Wilson, to give the city legislative approval to waive or rebate the Business and Professional Occupational License (BPOL) tax for companies during their first two years of businesses.  The resolution will be filed as a bill later this month.  The BPOL tax, originally levied to pay for the War of 1812, is a yearly tax that localities levy on a company’s gross receipts, not its profit.  Each locality sets its own BPOL tax rate.  In 2009, Virginia Beach raised $43 million from this tax. 

“The Chamber opposes the BPOL, and instead prefers a flat tax or its elimination,” said Ira Agricola, Senior Vice President of the Hampton Roads Chamber of Commerce.  Prior to the vote, the Chamber met with members of Virginia Beach City Council to provide direct feedback and share our position.

 

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