Smithfield has more than 300 businesses. Our local government strives to assist businesses by providing quality services and a customer-friendly environment. Businesses are assessed on annual Business Professional and Occupational License (BPOL) tax based on annual gross receipts. Business licenses can be obtained if the business location is properly zoned. Aside from issuing business licenses, the town does not regulate businesses nor intervene in consumer disputes.
Business Licenses for existing businesses must be purchased by April 15th in order to avoid penalties and interest. A 10% penalty will be added to those purchased after the due date, and interest at the rate of 10% per annum will be added as of May 1st. A copy of the current year’s Schedule C is required as backup for reported gross receipts. If the backup is not provided, you will not be allowed to purchase a business license the following year until the backup requirement has been satisfied. New businesses may contact the Treasurer’s office at any time during the year for purchase of a business license. The first year’s license may be based on estimated gross receipts.
The Smithfield Police Department offers as a free service a business security assessment. To have your property evaluated please call the Smithfield Police Department at (757) 357-3247.
- Contractors: .10 cents per $100 of gross receipts
- Retail: .12 cents per $100 of gross receipts
- Professional: .35 cents per $100 of gross receipts
- Repair/Personal and Business Service: .20 cents per $100 of gross receipts
- Wholesalers: .05 cents per $100 of gross receipts
Apply for a Business License
You Must Visit the Treasurer's Office located at 310 Institute Street Smithfield Virginia 23430 in Person to Sign the Appropriate Forms.