- September 30, 2021
- Posted by: Stratford Team
- Category: Business
After being hammered by the pandemic, small businesses will have one less expense to incur — at least for now.
The San Jose City Council on Tuesday unanimously approved a nine-month extension of a program that waives the city’s business license tax for businesses hurt by COVID-19. The extension will run from Oct. 1, 2021 through June 30, 2022. The program started on Oct. 1, 2020, and was set to expire on Thursday.
According to city officials, 5,500 businesses may be eligible for an exemption. A business may be eligible if the owner’s gross receipts are less than $25,760 or if the business owner and spouse have combined gross receipts that are less than $51,520.
The city estimates it could lose about $900,000 in tax revenue over the nine-month extension. It is unclear how the city will make up the shortfall in revenue.
Ken Kelly, executive director of the Winchester Business Association, has made a concerted effort to reach small businesses amid…
