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Council reviews NAICS-driven business license changes; staff to pursue revenue-neutral options and nonprofit registration
Summary
City finance staff briefed the Greenville City Council on required NAICS-driven business license reclassifications under South Carolina Act 176 (2020), saying the current rate schedule would produce a roughly $250,000 net revenue decrease and seeking council direction.
City finance staff briefed the Greenville City Council on required changes to business license classifications tied to the North American Industry Classification System (NAICS) update and South Carolina Act 176 of 2020, and council members signaled support for pursuing options that hold the city’s business-license revenue neutral.
Patricia (CFO) presented the required updates, saying, “under South Carolina act 176 of 2020, the standardization act, municipalities are required to update their business license classifications every odd year,” and that the NAICS changes apply to license years starting May 2026. She told council the staff analysis shows approximately 100…
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