Small Parking Stations will soon be Exempt from Certain Business and Tax Regulations
On Tuesday, the Board of Supervisors passed an ordinance that will amend the Business and Tax Regulations Code to define parking stations and hotels earning less than $40,000 in gross annual rental revenue as “Deemed Small Operators”. These small operators will now be exempt from the requirement to obtain a certificate of authority and to make monthly remittances. The prior approval of the Tax Collector is, however, required. Small Operators will also be exempt from the requirement to obtain a parking tax bond. These amendments, however, do not exempt valet parking operators making combined revenues greater than $250,000 per year from the monthly filing or bonding requirements. For a full copy of the legislation, click here. You can also see the Legislative Digest here. If you have any questions, please email us. The ordinance is currently waiting for the Mayor’s signature.