BEAUFORT, S.C. (Feb. 24, 2021) – City Council agreed at its Feb. 23 meeting to waive penalties and interest on business license taxes sent after April 30. Penalties and interest would begin if the payment was not received by June 30.
Council took this action to help businesses that may be having cash-flow problems as Covid-19 restrictions continue to be in place. “January and February are the leanest months in the tourism industry in Beaufort, especially for our hospitality partners,” said Mayor Stephen Murray. The 60-day deferral gives these businesses some breathing room as they move into busier months, he said.
City Council took similar measures last spring as Covid-19 restrictions began to impact the economy, restaurants closed except for takeout orders, and tourism essentially shut down.
Finance Director Kathy Todd said that approximately 750 businesses out of 2,400 took advantage of the deferred payments last year, which accounted for about 20% of all business license revenue.
Council urged that businesses that can pay their taxes by the April 30 deadline do so.