Tax Receipts for Palm Beach County/City (Florida).

During the closing process a borrower/new business owner may be asked to complete and upload a tax receipt for the county that the new business will be run in. Some cities also require a tax receipt. These “tax receipts” used to be called “Occupational Licenses.” 

If this is an Asset Purchase, the borrower cannot upload these licenses because neither the county, nor  the city will issue them to the new business owner until the deal closes and the business changes hands. So, what a lender will do is have the borrower complete the application so they can see the borrower is ready to go and then once he or she owns the business, the tax receipt(s) can file them and they will receive their licenses. For Asset Purchases, these are always post-closing items.

Link for the license(s): https://www.pbctax.gov/taxes/business-tax/

You will find the link under section #2. Click where it says Online then click the Local Business Tax Receipt Online Application. Once that opens, you can choose the location (city, or county). If you hit “Unsure”, you will need to put in the address and all the data will come up.

Download the application(s), complete them and send them to your Main Street Funding Group representative.