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Rent, Property Tax, Commercial Rent Tax, FICA Tax & Liquor Excise Tax (Covid-19 Policy)

taxes

Our December 2020 survey found that 92% of restaurant, bar and club respondents could not pay any or full rent in December, which is a troubling pattern reoccurring each month since April. The City should provide: (1) a reduction in property tax payments for these small businesses that pay them as a pass through by their landlords; (2) landlords should be provided tax incentives to forgive back rent and renegotiate new leases; (3) the inequitable Commercial Rent Tax must be eliminated for those businesses subject to the tax; (4) the City and State Finance Departments should permit the FICA Tip Tax Credit to be an allowable subtraction from that business’ taxable income; (5) eliminate the unfair liquor excise tax imposed by the City on all local liquor license holders.