Supervisors vote to repeal Merchants’ Capital Tax
The Brunswick County Board of Supervisors adopted an ordinance to repeal the Merchants’ Capital Tax effective Jan. 1, 2017. The supervisors held a public hearing on the proposed ordinance amendment on Wednesday, June 17, and no one spoke in opposition and several people spoke in favor of repealing the tax.
Scott Martin, chair of the Economic Development Authority of Lawrenceville, said the authority fully supports the adoption of an ordinance to amend the merchant’s capital tax in Brunswick County.
“In the view of the EDA, this tax acts as a deterrent to attracting new industry into our county. It also may become a determining factor for those present businesses who may be considering whether to remain in Brunswick County. Brunswick is a prime location for businesses such as distribution centers, however, considering that many of the surrounding counties do not have this tax, it leaves Brunswick without much hope of attracting these facilities,” Martin stated. “Considering the relatively small revenue garnered from this tax and the future revenue anticipated with the completion of the Dominion plant and the pipeline, we see this as the most opportune time to be considering this move. It is our hope that you will proceed with the elimination of the merchants’ capital tax at this time.”