|
Any individual, partnership, corporation, or other legal entity doing business within the city limits, is required to open and maintain a City business license. The business license fees may vary based on the type of business. Click on the links below to obtain a City business license application Occupational/ Net Profit Tax - Occupational TaxThe occupational license fee is 1.75% of the earnings of an individual, association, corporation or other entity doing business within the city limits of Frankfort. The occupational license fee is due the month following each quarter. For an employee, the license fee is withheld by the employer at the rate of 1.75% of the salaries, wages, commissions and other compensation earned for work or services performed within the city limits of Frankfort. Net ProfitAny non-employee classified as an individual, partnership, association, corporation, fiduciary or other entity engaged in any business, profession or enterprise, is subject to an annual license fee. The fee is the greater of $35.00 or 1.75% of the net profits for work or services performed within the city limits of Frankfort. The net profit return is due 3.5 months after the year ends. Any corporation, association, individual, fiduciary, or entity that receives income from real estate rentals with annual gross receipts in excess of $100,000 is presumed to be in the rental business, and is subject to the greater of $35.00 or 1.75% of the net profits of the business. The license fee is assessed equally on both residents and non-residents of the city. Click on the links below to file either Occupational taxes or Net Profit Taxes Regulatory License FeeA $25.00 Annual License Fee is required from all non-residential contractors and Itinerant Businesses. The due date is May 1st of each year. Click on the links below to obtain a copy of the Regulatory License Fee application
|
