Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.
| State or Territory: | Virginia |
| Effected Jurisdiction: | City of Norfolk |
Jurisdiction type: | Municipality |
| Fiscal year ending In: | 2018 |
| Program name: | New Business License Incentive Program |
| Program purpose: | General Economic Development |
| Statutory authority: | Norfolk Code 24-25.9 and 24-25.2 |
| Abating jurisdiction(s): | City of Norfolk |
| Applicable taxes: | Business License Tax |
| Method of abatement: | Reduction |
| Provisions for recapture: | If the business estimates its gross receipts will exceed $1 million, but the actual gross receipts are less than $1 million, the benefits of the program are not available unless the business completes the qualification process. Likewise, if the qualifying business estimated less than $1 million and the actual gross receipts were more than $1 million the business is responsible for the entire tax amount and will be removed from the program. |
| Gross revenue loss: | $12,424 |
| Reimbursement / offset: | $0 |
| Net revenue loss: | $12,424 |
| Type of loss: | Active |
| Additional notes on dislosure: | (none) |
