Commercial Rent Tax
The NYC Hospitality Alliance worked hard to reform the unjust Commercial Rent Tax, which is effectively a 3.9% surcharge that only businesses located south of 96th street in Manhattan pay on their annual rent when it exceeds $250,000. The reform increased the Commercial Rent Tax exemption threshold to businesses paying less than 500,000 annual rent. This reform exempted hundreds of restaurants and bars from paying the tax at all and saved others from paying the full tax. While this reform is a major victory for many of our members, the NYC Hospitality Alliance will continue to advocate to eliminate the unjust Commercial Rent Tax all together.