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Council raises small-business BPOL exemption from $250,000 to $500,000
Summary
Richmond City Council voted to amend city code to increase the business, professional and occupational license (BPOL) tax exemption threshold for small businesses from $250,000 to $500,000 in annual revenue.
Richmond City Council on July 28 adopted an ordinance increasing the city’s BPOL exemption threshold from $250,000 to $500,000 in annual gross receipts, a change proponents said will help retain and attract small businesses.
Councilmember Stephanie Lynch, floor sponsor of the ordinance, framed the change as the result of several years of discussion. Lynch said Richmond’s exemption level lagged neighboring…
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