Rent, Property Tax, Commercial Rent Tax & FICA Tax

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.