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Bill would waive all business license fees until Sept. 2022

Senators weighed a bill that attempts to assist struggling island businesses by waiving business license fees until Sept. 2022.  There are about 20,000 active business licenses on island, according to the Department of Revenue and Taxation. Business license fees can be as high as $1,000. New businesses are required to pay for a business license, while existing businesses are required to renew regularly.  Bill 1, introduced by Vice Speaker Tina Muña Barnes and cosponsored by Sens. Jose Pedo Terlaje and Anthony Ada, would waive all business license fees from Oct. 1, 2020, through Sept. 30, 2022. It would allow for business license fee credits for those who paid fees within the time period prior to the bill s enactment, if it becomes law. 

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