Business License
Business Taxes & License Renewal
Business license renewals and gross receipts taxes are due March 1.
We’re here to make your journey through Buena Vista’s business tax process as smooth as possible. Whether you’re a new entrepreneur or a seasoned pro, we’re ready to help you so you can focus on what matters most–growing your business.
Business License: Gross Receipts Tax
The business license tax is based on your business’s gross receipts (revenue before deductions). Different classes of occupations pay different rates, reflecting their relative operating margin. The occupation category is based on your description of your business and any follow-up questions we might have, in accordance with the code of Virginia. Each calendar year’s business license tax is based on the prior year’s gross receipts. New businesses in the first year will be asked to submit an estimate of their first year’s gross receipts and will pay the minimum license fee of $30.00. The estimate will be corrected to your actual amount in your second year. The following is a breakdown of the occupation categories and their subsequent rates.
| Occupation Category | Rate |
| Contractor | $0.16/$100 |
| Retail Sales | $0.20/$100 |
| Repair, Personal, Business, and Other Services | $0.36/$100 |
| Financial, Real Estate, and Professional Services | $0.58/$100 |
| Wholesale | $0.05/$100 |
| Telephone & Telegraph Service | $0.005/Gross Receipts |
| Carnivals | $250.00/per day |
| 1-3 Machines | $50.00 |
| Over 3 Machines | $100.00 |
| Peddlers; Itinerant Merchants | $500.00 |
| Tobacco | $10.00 |
| Pistol | $20.00 |
| Distiller, Winery, Brewery, and Beer Wholesaler | $500.00 |
| Wine AND Beer On Premises | $75.00 |
| Wine OR Beer On/Off Premises | $50.00 |
| Wholesale Wine Off Premises | $50.00 |
| Mixed Beverage, Wine, AND Beer On Premises | $250.00 |
Business License Renewal
Business licenses expire at the end of each calendar year and must be renewed annually by March 1st.
How to renew your business license:
- Submit the following information to the Commissioner’s Office
– Gross receipts for the prior year
– List of business personal property, if applicable
– If you are a contractor, a Certificate of Workers’ Compensation Insurance
Information submission may be done by:
– Phone at (540) 261-8611
– Email to kpate@bvcity.org
– Mail to Commissioner of the Revenue, 2039 Sycamore Ave, Buena Vista, VA 24416
– In person in the Commissioner of the Revenue’s office on the 1st floor of the municipal building, 2039 Sycamore Ave. Buena Vista, VA - Pay the business license tax owed by March 1st due The Commissioner of the Revenue’s office will calculate the business license tax owed and inform you of the amount due to be paid. Payment may be made by cash, check, or money order to the Treasurer’s office, located at the Buena Vista municipal building, 2039 Sycamore Ave., Buena Vista, VA 24416, by:
– Mail
– In person
– Drop box at the back of the building
Once your taxes are paid, you will receive a copy of your renewed business license.
Business Personal Property Tax
All businesses located in Buena Vista are required to file an itemized listing of all business personal property when submitting gross receipts for business license renewal by March 1st deadline. The list must include all equipment owned as of January 1 of the tax year. If business personal property is not filed, it will be manually assessed by the city.
The list should include an equipment description, date of purchase, and purchase price.
The business personal property tax rate is $5.85 per $100.
Machinery and Tools Tax
Businesses that have been classified as the following are required to file machinery and tools:
- Manufacturer
- Miner
- Dairy
- Radio / Television broadcaster
- Dry Cleaner / Laundry
If your business is classified as a processor or re-processor, you are required to report both machinery and tools along with furniture, fixtures, and equipment. The machinery and tools tax rate is $4.25 per $100
- Year 0-10 is taxed at 20% of the purchase price for a nominal rate of $0.85.
- Year 11-20 is taxed at 15% of the purchase price for a nominal rate of $0.6375.
- Year 21-30 is taxed at 10% of the purchase price for a nominal rate of $0.425.
Meals and Lodging Tax
A 6% Meals and Lodging tax is due monthly for all food and lodging establishments located in Buena Vista. Payment and necessary forms are due on or before the 20th day of each following calendar month.
Food Establishments are required to collect and pay a 6% tax on the total amount paid for meals/food purchased from said establishments. A food establishment:
- Is any establishment engaged in the business of selling food/meals and/or beverages, regardless of:
– Whether the food was prepared in the establishment or not.
Whether consumed on premises or not. - Includes restaurants, caterers, coffee shops, convenience stores, grocery stores, delis, etc.
Lodging Establishments are required to collect and pay a 6% tax on the total amount paid for lodging. A lodging establishment:
- Is any establishment offering lodging for compensation (for a period of no more than 30 consecutive days).
- Includes those using online rental platforms, like Airbnb or VRBO.
The Meals and Lodging tax collected should be submitted to the Finance Office with the Meals and Lodging Tax Form by the due date.
Businesses must file a form every month, even if they have no receipts to report.
Payment may be made by mail or in person to:
Director of Finance
2039 Sycamore Ave., Buena Vista, VA 24416
Any questions may be directed to the Finance Director at cclemmer@bvcity.org or (540)261-8602.