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Tax Break Extends On Small Business Licenses

Tax Break Extends On Small Business Licenses
  • Post category:News

SAN JOSE, CA – The pandemic has hit small businesses hard. Out of any strand of commerce, mom-and-pop shops are under siege the most. With fewer customers entering from an already competitive market, there’s big losses ahead for these local spots. Therefore, in recognition of this traumatic time in American history, the San Jose city council wholly agrees to expand a tax break throughout the town. However, with the understanding that the tax break will expand. This is an offer that all small businesses will enjoy heavily.

The tax, that business owners pay annually to receive licenses ranges from $203 to $163,745, which is dependent on the quantity of workers employed by the business.

And it’s not like things have been any easier as of recent. Recently, 6,000 businesses in San Jose would become eligible for the exemption.

There’s certain hoops to jump through however. For starters, to qualify, the business must meet one of two income requirements. So long as the owner makes nothing more than $51,040 in annual income. On top of that, the city will extend the schedule for business taxes from 3 months long to 12 months long.

The result of change would show about $1 million less in taxes being up-for-grabs. That’s, by the way, a rough four percent of the city’s adoptive budget from 2020 to 2021.

It’s times like these that make me wonder how my own family could survive in such economic turmoil. Oh the inhumanity! But, at least the money is finally going back to to their rightful business owner.

This reminds me how my uncle was all about his burger shop called “Super Burger.” It was supposed to compete with the big regional chain, Colombian Burger, but alas. That wasn’t what exactly was going to happen but it did feel cool to have somewhere to hang out. In any case

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