Business Licenses
In order to apply for a business license, you must first determine if your physical location is within Isle of Wight County or one of two incorporated towns – The Town of Smithfield or the Town of Windsor.
ISLE OF WIGHT COUNTY BUSINESS LICENSE PROCESS
All businesses with gross receipts over $4,000 must purchase a business license before conducting business in Isle of Wight County. Generally, the license fee is based on gross receipts and will vary according to the type of business. The license expires December 31st and must be renewed by March 1st of the following year to avoid a 10% penalty.
Depending on your business, there may be additional requirements to meet before your first day of business. Before the Commissioner of the Revenue’s Office is able to issue a business license, you must contact the Central Permitting Division at 757-365-6211 to determine if a Zoning Permit will be required. If you plan to operate your business under anything other than your legal first and last name, an assumed name form must be obtained as well. In addition to the business license tax, you may be required to pay other taxes prior to the issuance of your license.
To obtain a business license and name registration, local contractor license, inquire about personal property and other taxes, contact:
Isle of Wight County
Commissioner of the Revenue
17090 Monument Circle, Suite 113, Isle of Wight, VA 23397
(757) 365-6222
TOWN OF SMITHFIELD BUSINESS LICENSE PROCESS
If a business wishes to locate in the Town of Smithfield, a zoning permit is required prior to applying for a business license. Zoning permits are issued by the Town’s Planning Department:
Town of Smithfield
Planning Department
310 Institute Street, Smithfield, VA 23430
757-365-4200
To obtain a Smithfield business license and register the name of a business, contact:
Town of Smithfield
Treasurer’s Office
310 Institute Street, Smithfield, VA 23430
(757) 365-4200
The business license expires December 31 and must be renewed by April 15th of the following year.
The Treasurer’s office will also explain real estate taxes and obligations to the town and Isle of Wight County. To find out what issues are involved in a home-based business, contact the Treasurer’s office. Sign permits, waivers and variances may also be obtained through the Planning Department. Land disturbance permits and building permits are issued through Isle of Wight County’s Central Permitting Division.
TOWN OF WINDSOR BUSINESS LICENSE PROCESS
If a business wishes to locate in the Town of Windsor, a zoning permit is required before applying for a business license. The Town of Windsor office is a “one-stop shop” for a business license and business name registration. The Town’s treasurer will explain real estate taxes and other obligations to the Town and Isle of Wight County. Sign permits, waivers and variances may be obtained through Windsor’s Planning and Zoning Administrator. Land disturbance permits and building permits are issued through Isle of Wight County’s Central Permitting Division.
Town of Windsor
8 E. Windsor Blvd.
Windsor, VA 23487
(757) 242-4288
The business license expires December 31 and must be renewed by April 15th of the following year.
Taxes
| Isle of Wight | Smithfield | Windsor | |
|---|---|---|---|
| Real Estate | $0.73/$100 | $0.14/$100 | $0.15/$100 |
| Machinery & Tools | $1.95/$100 | $0.15/$100 | $0.25/$100 |
| Business Personal Property | $4.50/$100 | $0.87/$100 | $0.50/$100 |
| Virginia | Isle of Wight | ||
| Sales & Use Tax |
5% | 1% |
Additional Tax Information:
- Business Tangible Personal Property is assessed annually at 40% of original cost.
- Machinery and Tools is assessed annually at 40% of original installed cost.
- Lodging Tax is 5%.
- Meals Tax: 6% in Isle of Wight County (effective July 1, 2024); 6% in the Town of Windsor and 6.25% in the Town of Smithfield.
- Utility Consumer Tax (Electric): 20% of the minimum monthly charge imposed by the service provider plus the rate of $0.14776 on each kWh/month, not to exceed $200 (commercial/industrial consumers)
- Utility Consumer Tax (Gas): 20% of the minimum monthly charge imposed by the service provider plus the rate of $0.15716 on each CCF/month, not to exceed $200.
Key tax collection dates:
- March 1: Isle of Wight County business license taxes due
- April 15: Town of Smithfield and Town of Windsor business license tax due
- May 1: deadline for filing business personal property and/or machinery and tools report to County
- December 5 & June 5: first and second half of real estate tax due
- June 5 & December 5: first and second half of personal property tax due
For further information please visit the Isle of Wight County Commissioner of the Revenue website.