The new year is bringing a few changes to the business world, and we think it should be your beeswax to be in-the-know about your business.
Back in September, we created a business resource guide for Columbia entrepreneurs, and the new changes coming to the process of obtaining a business license will affect 8,500+ of Columbia businesses starting Jan. 1, 2022.
These changes follow the Business License Tax Standardization Act from Sept. 23, 2020. The act’s goal is to create the same process for all taxing jurisdictions across the state, and Columbia’s Chamber of Commerce believes Act 176 will make the entire business license process easier.
For example, the current ordinance uses over 150 business codes, but under the new ordinance, this will be cut down to just nine rate classes.
💼 This is all great, but what does it all mean?
All cities + towns must update their business license ordinance to comply with this law that standardizes everything from business year periods, renewal dates, and applications by the beginning of the year.
Though changes in business processes can seem overwhelming, there are many resources out there to help you stay on track + make sure you don’t miss any key steps.
After reading the new act, start here to see exactly what the new law requires. After reading through the requirements, walk through these seven steps The Municipal Association created to simplify this process for businesses.
💼 For new businesses
If you’re looking to start a business, fill out the business license application and submit a copy of the application to each city or town that requires a business license where your company works.
💼 For business renewals
The previous renewal date was April 1, but business owners now have until April 30 to apply for a 2022 license. Click on this resource for a statewide online portal for business license renewals.