In an effort to provide tax relief for small businesses, Bedford County has eliminated its Merchant’s Capital tax. That tax requires that businesses calculate their inventories on January 1, and pay a certain percentage of tax on that.
District 1 Supervisor Dale Wheeler, who made the motion last month to eliminate this tax, said the tax put retailers in a dilemma as the end of the year approached. If they didn’t buy enough, they could run out of inventory. If they bought too much, they got taxed.