Santa Monica : Tax Amnesty Approved
A business license tax amnesty, which will apply to Santa Monica businesses that have failed to pay part or all of their license tax during the last two fiscal years, was unanimously approved by the council Tuesday.
Businesses that pay overdue taxes with interest between July 1 and Aug. 31 can avoid a late penalty which can run up to 50% of their tax bills, according to City Atty. Robert Myers.
According to City Manager John Jalili, the measure may enrich the city’s coffers by as much as $200,000. He said the city does not have any information on how many businesses owe the city money or will participate in the amnesty.
Business license taxes vary by the type of business, Myers said. For example, a peddler may pay a flat fee for a license while an attorney’s license tax is based on a percentage of the attorney’s gross receipts.
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