The city will soon introduce a business tax once Bill K is passed in the November 2022 election. Taxes are structured to be deferred. In other words, the previous year’s portion will be paid in the following year. This tax he will take effect in 2023, but the first payment he will not make until January 2024 and will be paid quarterly. More information on administering taxes, including documentation required for tax filing and instructions on paying taxes, will be shared shortly in this newsletter and posted here.
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