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Wednesday, Aug 17, 2022
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Newport Beach Waives Business Tax for COVID Affected

The Newport Beach City Council last night granted a one-year waiver for its license tax to businesses ordered closed by the state government due to COVID-19.
About 1,850 businesses that pay on average $294 annually are eligible for the waiver. Newport Beach has 25,000 businesses currently licensed, including almost 9,000 that have their headquarters in the city.
The city projects the waiver will cost a one-time revenue loss of $667,000.
Since Newport Beach’s business license tax is payable on a variable renewal date that is unique for each business, the proposed waiver would be in effect for renewals processed for a one-year period beginning on April 1, 2021, and concluding on March 31, 2022.

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Peter J. Brennan
Peter J. Brennan
Peter J. Brennan has been a journalist for 40 years. He spent a decade in Latin America covering wars, narcotic traffickers, earthquakes, and business. His resume includes 15 years at Bloomberg News where his headlines and articles sometimes moved the market caps of companies he covered by hundreds of millions of dollars. His articles have been published worldwide, including the New York Times and the Washington Post; he's appeared on CNN, CBC, BBC, and Bloomberg TV. He was awarded a Kiplinger Fellowship at The Ohio State University.
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