From our News Partners at WCBD-TV:
Officials in Summerville are developing a town-wide audit of businesses. That's never been done before. Prior to rolling out the program, the town is offering a five month amnesty program to get current without paying hefty penalties.
At the end of the amnesty period, businesses will be systematically and randomly selected for audits looking back over four years of tax records.
Business license equated to nearly a quarter of the town's operating budget in 2013. The license fees pay for many community services in the general fund like fire and police protection
During the amnesty period, any business that has a current or prior year business license may have their gross receipts verified. Those gross receipts will be compared to the amount reported to the town in calculating the business license for 2013. If there is a discrepancy in the records, only the difference would be due. All penalties would be waived.
Also, any business now operating without a license may become current by applying and paying for the current license with paying any additional fees.
Business owners can have their records checked by bringing in a transcript of their Federal Tax return or a certified letter from their CPA stating the amount of gross receipts from January 2012 till December 2012.
The amnesty program runs between December 1, 2013 and April 30, 2014.
Image courtesy of WCBD-TV.