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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
With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peter’s work reflects a commitment to impactful storytelling. Peter’s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peter’s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.
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