WAMU 88.5 : News

New Tax Laws Aim To Support Virginia Businesses

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All Virginia cities, many towns, and 47 counties impose business, professional, and occupational license taxes. Even when they don't make profits, businesses still must pay the tax imposed on their gross receipts instead of taxable income. Gov. Bob McDonnell calls that an obstacle to success.

"Sixty percent of all small businesses fail within the first five years, either because of under-capitalization, bad management, or government intrusion, whether it's taxes or regulations," he says.

One new law allows localities to exempt unprofitable businesses. The governor says a second gives localities more flexibility for new companies.

"That really gives it a lot of opportunities to allow localities to compete, to be able to get new businesses to come their, or, more importantly, to get entrepreneurs to start a business," McDonnell says.

Local governments are not mandated to make these changes.

NPR

Book Review: 'Born To Run,' Bruce Springsteen

Music critic Will Hermes reviews a new autobiography from Bruce Springsteen called Born To Run.
WAMU 88.5

A Matter Of Taste: What Prix Fixe Menus Say About D.C.'s Dining Scene

Is a meal for a special occasion worth hundreds of dollars?

NPR

Sept. 11 Lawsuits Vote Today Could Be First Reversal Of An Obama Veto

The bill would let victims' families of the Sept. 11 attacks sue Saudi Arabia for aiding or financing the attacks. The White House says the move could put U.S. interests and personnel at risk.
NPR

When Phones Went Mobile: Revisiting NPR's 1983 Story On 'Cellular'

The report titled "Cellular Phones Are Completely Mobile" features a man who was "among the first 1,500 customers to use a new mobile phone system called cellular."

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