The new year has made its debut with quite a bang! Snow, a new president and for business license carriers on Kiawah Island, there’s a requirement to renew.
Beginning in 2025, all businesses will be required to submit income-verifying documents along with their license renewal form.
That means that businesses must include documentation verifying reported income when submitting the paperwork. If they fail to comply, the renewal process will be significantly delayed until the correct paperwork is submitted or the renewal could be denied.
The additional documentation will help the town confirm the accuracy of business license fees, as these are calculated based on reported income levels.
One of the following documents is accepted when reporting income:
- Federal or state income tax return, which must clearly show Kiawah gross receipts
- Profit and loss statement, which must clearly show Kiawah gross receipts
- Reports from the company’s finance software that show Kiawah gross receipts
- Contracts for Kiawah projects or sales
- South Carolina state sales tax returns that show what income and taxes were reported for Kiawah
- Signed letter from the company’s CPA stating the company’s Kiawah gross receipts and that they acknowledge it is correct
- Notarized letter from business owner stating the company’s Kiawah gross receipts and that they acknowledge it is correct
- VRBO and Airbnb income reports that show Kiawah gross rental sales
The new income verification paperwork will be required when submitting for renewal online or in person. The 2025 license renewal period will start on February 1, 2025. Businesses will need to submit their verifying documents along with their renewal form by April 30. The renewal notifications will be emailed the last week of January 2025.
Every person engaged or intending to engage in any calling, business, occupation or profession referenced in whole or in part within the limits of the town is required to pay an annual business license fee based on gross income. Business licenses are valid for one calendar year beginning May 1 expiring April 30. Renewals received after April 30 are considered delinquent and subject to a late fee of 5% per month. A new business shall be required to have a business license before operating within the town.
Information pertaining to business license renewal can be accessed on the Kiawah Island website at citizenserve.com/Portal/PortalController.
Kiawah Island enacted the business license ordinance in 1993, which specifically states that where every person engaged or intending to engage in any business, calling, occupation, profession or activity engaged in with the object of gain, benefit or advantage, in whole or in part within the limits of the Town of Kiawah Island, is required to pay the annual business license tax for the privilege of doing business and they must obtain a business license.
The tax is different based on the income obtained. Rates and other information can be found at kiawahisland.org/business_licenses/index.php.
