![]() The guidance addresses a frequently asked question regarding the relationship between calculating gross receipts and the accounting method the borrower uses for its business. The other 16 questions handle how a PPP borrower can calculate the maximum amount it is eligible to receive in a second-draw loan. Eight questions deal with how to determine if a PPP borrower experienced the 25% decline in gross receipts required to apply for a second PPP loan of up to $2 million. The second-draw calculations guidance is structured in the form of 24 questions and answers addressing a variety of situations involving different types of organizations. A procedural notice establishing the requirements and processes for borrower resubmission of a loan forgiveness application using SBA Form 3508S when forms 3508 or 3508EZ were previously submitted.A procedural notice explaining what PPP borrowers must do if they or their lender made an application error that resulted in a borrower receiving a PPP loan amount that exceeds the borrower’s correct maximum loan amount.A 12-page document detailing calculation processes and required documentation for first-draw PPP loans by business type.The release came after SBA and Treasury issued three pieces of guidance over the weekend: The guidance also lists the documents borrowers must provide to support each set of calculations. Small Business Administration (SBA) and Treasury issued an 18-page document Tuesday detailing how Paycheck Protection Program (PPP) borrowers should calculate revenue reduction and maximum loan amounts for second-draw PPP loans. Late FilersĪfter September 30 of the license year, you must include a copy of your complete prior year business federal tax return with your renewal form.The U.S. ![]() ![]() However, you must still complete, sign and return your form, along with the documents listed above. There is no tax if your James City County gross receipts were below $25,000 in 2022. Incomplete or mismatched contractor renewal packages will not be processed, and will be considered late if not completed by March 1. Names and entity types on all contractor documents (business license, state contractor's license and VWC letter of acknowledgement) must match exactly. Include list of all subcontractors, including full name and address, and amount paid in James City County during 2022.A copy of your current Virginia Class A, B, or C contractor’s license.Only the letter from VWC will be accepted. Do not send insurance certificate or form 61A with your renewal. To get your letter, visit the Virginia Workers' Compensation Commission or call 80. A copy of your current VWC “Acknowledgement of Compliance” letter.ContractorsĪll contractors must submit complete renewal package which must consist of the following: Add the flat fees shown on your return to the tax. ![]() Restaurants, Stores and Others Serving or Selling Alcoholic BeveragesĬalculate your license tax on all gross receipts, including sales of all beverages. If prior year gross receipts were zero, input “0”. You may contact our staff for assistance with your calculation. Second year businesses (whose first business license in James City County was last year) must also calculate their estimate-to-actual adjustment. Use the calculator at the bottom of this page to calculate your 2023 tax. After using the calculator, you must print the completed form, sign it and mail it along with a check to the address at the bottom of the page. This page provides a tax calculator for your convenience, but does not allow for online filing of your business license return. Business license holders must calculate their own tax and remit payment with their business license return by March 1 annually.
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