
After the close of the year, the estimate must be adjusted to reflect the actual gross receipts received. See the illustration below for the calculation of the tax. The gross receipts for the second year are an estimate of the revenue that the business will earn for an entire year.
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Calculating the Business License for the Second Year This adjustment will be included in the tax for the Second Year. The gross receipts are an estimate of the revenue that will be earned by the business until December 31 of the year in which the business opens. Calculating the Business License for the First Year Licenses are obtained at the beginning of each year. Renewal applications must be filed by March 1 and payments made by March 15.

Business license renewals will be sent out each year.

Each business operating in the City of Fredericksburg is required to obtain a business license.
