Fillable Annual Renewal - Occupational License - City Of Florence

INSTRUCTIONS

License Renewal: All Occupational Licenses expire the 15

day of the fourth month following the close of the taxable

year end. A renewal return form is available on-line at under the Finance tab.

Line 1. TOTAL GROSS RECEIPTS.

Total Income is defined as Total Receipts or Sales less Returns and Allowances, plus Gross Rents, as reported on the

last filed Federal Income Tax Return. If a new business has not filed its first Federal Income Tax Return, then the

business must use the estimates stated on the application.

Individuals – 2015 Federal Income Tax Return, Form 1040, Schedule C, Line 3(Schedule C-EZ, Line 1) and/or schedule

E, Line 3 totals, or equivalent line on last filed return.

Partnerships – 2015 Federal Income Tax Return, Form 1065, Line 1C plus Form 8825, Line 2 total or equivalent line on

last filed return.

Corporations – 2015 Federal Income Tax Return, Form 1120 or Form 1120-A, Line 1C plus Line 6 or equivalent line on

the last filed return.

S Corporations – 2015 Federal Income Tax Return, Form 1120S, Line 1C plus Form 8825, Line 2 total or equivalent

lines on last filed return.

Line 2. ALLOCATION PERCENTAGE – Prepare Schedule A if gross receipts were earned outside of the City.

Line 3. GROSS RECEIPTS DERIVED IN CITY – Multiply Line 1 times Line 2.

Line 4. AMOUNT OF CITY OF FLORENCE OCCUPATIONAL LICENSE FEE DUE

Round to Nearest $

A. Total Gross Receipts Derived in City (Line 3)

0.00

B. Rate

X .001

C. Fee Amount* (Enter this amount on Line 4)

40.00

*Enter no less than $40.00 or more than $10,000

Line 5. AMUSEMENT GAME MACHINE LICENSE. $10.00 per machine. Attach list including location of games:

A. Do you own the Amusement game machines? Y or N

B. If NO, then list the name, address and telephone number of the owners.

_______________________________________________________________________

Line 6. DUPLICATE LICENSE FEE. Anyone conducting business at more than one location (in the City of Florence) is

required to post a duplicate license at each additional location. The charge for a duplicate license is $25.00 per location.

Line 7. ADJUSTMENT. The license tax for each license year shall be computed based upon the income shown on the

last Federal income tax return filed by the business. A new business, defined as one which has not yet filed a Federal tax

return with respect to income from operations in the City, shall estimate license fees based on projected first year income

as stated on the license application. Upon filing its first Federal tax return, the business shall report the applicable amount

of income to the Finance Department and either pay an additional fee or receive a corresponding credit based on the

difference between the original fee paid and what should have been paid, had the amount of income been known at the

time of application. If an underpayment has occurred, penalty and interest shall be assessed on the amount of the

difference.

Line 8. SUB-TOTAL. Lines 4 thru 7 added.

Line 9. PENALTY. If the total tax is not remitted to the City of Florence by the due date, there is a minimum penalty of

$25.00 or 5% of the tax due for each month or a fraction thereof. The penalty shall not exceed 25% of the total tax due.

Line 10. INTEREST. If the total tax due is not remitted to the City of Florence by the due date, the entity shall pay in

addition to the penalty, an amount equal to one(1%) percent per month or fraction thereof simple interest on the tax due

from the time due until the tax is paid to the City.

Line 11. TOTAL CITY OF FLORENCE OCCUPATIONAL LICENSE FEE. Lines 8 thru 10 added.

ADDITIONAL INFORMATION or copies of the coded ordinance are available by contacting the Finance Department,

telephone (859) 647-5413 – or 8100 Ewing Blvd., Florence, Kentucky 41042-7588.

Annual Renewal - Occupational License - City Of Florence - 2016 Page 2

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