All businesses operating within the City of Lynchburg must obtain a license by May 1st, 2023. The fee for the business license is based on the gross receipts or purchases of the business. Retail merchants pay 19 cents per $100 of gross receipts, while contractors pay 15 cents per $100. Business/personal services pay 34 cents per $100, professional services pay 55 cents per $100, and wholesale merchants pay $20 plus 26 cents per $100 of gross purchases.
It’s important to note that businesses with gross receipts or purchases of $150,000 or less are not required to obtain a business license in Lynchburg. However, all businesses must also comply with state income tax requirements by May 1st, 2023. The Commissioner of the Revenue Office in Lynchburg offers free State income tax assistance to residents who bring a copy of their completed Federal tax return, W2s, and any supporting documents to the office. No appointment is required for this service.
Businesses must ensure they comply with all deadlines and requirements in order to smoothly operate in Lynchburg. For more information or inquiries about business licenses or state taxes, contact the Commissioner of the Revenue Office at (434) 455-3870.