Due to a change in the way the state will collect its fees for business licenses, many area businesses should be prepared to file a partial statement for their business taxes, according to Moore County Court Clerk Nancy Hatfield.
The state is in the middle of changing all business licenses and the procedure in which they are collected effective Jan. 1, 2014. Since 1971, when the state first began collecting fees for business licenses, they have been due in a staggered fashion, depending on the type of business.
“This next year all licenses will come due January to December (and) it will be mandatory to report online,” said Hatfield. “For anyone who has reported this year — like the contractors who are filing now — they will have to file a three-month period at the beginning of the year.”
The changes affect how and when businesses report their gross business tax.
“Most of the businesses around the square are Class 3, which means their actual fiscal year for business is from July 1 until June 30. That means for this coming year, those people that have filed their business tax back in July, will have to file again in January for (a six-month period),” said Hatfield. “The biggest thing that people need to know is that come the first of the year they will have to renew their license. They will actually have until May 15 to get it reported to the state, but they will have to do it all on a computer. All the reporting will be done on the computer. There will be no paper forms.”
According to Hatfield, all fees will be collected online now as well. Once the state has collected the fees and they are recorded, the state will notify Hatfield that it is OK to issue the business a renewal on its license.
Business owners may renew their professional or business license by going online to <https://apps.tn.gov/cirens>.
When going online to renew licenses, business owners will need their license/ID number and mailing address zip code; basic information about the business owner and license; and a credit/check card for payment.
For more information, or clarification, call Hatfield at (931) 759-7346.