![]() At the end of the calendar year, tax paid using an estimated gross receipts amount as the basis for the tax, will require adjusting the estimated gross receipts to reflect the actual gross receipts for the year. ![]() See Required Forms below.įor most new businesses, the business owner estimates the gross receipts for the first year of operation. New businesses must apply for a license prior to beginning business and pay the tax or fee within 30 days of the start of business. The tax rate varies according to the type of the business. Most BPOL taxes are based on the gross receipts earned by a business in the previous year. ![]() ![]() §58.1-3700 of the Code of Virginia determines which business activities are required to obtain a business license, also known as a Business, Professional, and Occupational License (BPOL) tax. City of Newport News Code of Ordinances §23. ![]()
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