Business Tax Amnesty Program (Press Release)
FOR IMMEDIATE RELEASE
Jan. 8, 2018
City of Riverside Encourages Businesses to Get Current on Business Tax Compliance, Waives Penalties and Interest for Six Months
Businesses can learn about registration requirements and get into compliance during an Amnesty Program open through June 30, 2018
RIVERSIDE, Calif. – Businesses that operate within the City of Riverside that have not paid the required business tax can get caught up without paying penalties or interest through an amnesty program that continues through June 30.
The Business Tax Amnesty Program is designed to help businesses that have fallen behind in their payments, or may not have realized they needed a business license, to comply without worrying about the additional cost of penalties and/or interest payments.
The program is part of an overall Business Tax Action Plan approved by the City Council last year that seeks to inform all businesses of registration and tax requirements to operate in the City. Revenue from the business license tax goes into the City’s General Fund, which pays for City services benefiting both residents and businesses.
“Businesses taxes help us pave roads, fill potholes and provide for public safety,” Mayor Rusty Bailey said. “”I’m glad to see our staff has worked with the Greater Riverside Chambers of Commerce to help businesses get into compliance so they continue growing and creating jobs without having to worry about penalties and interest payments that ordinarily would apply.”
The City of Riverside also has made it much easier for businesses to comply with the requirement by offering online tools to apply for a business license, renew a business license or close an existing account. Those services and more information about how business taxes work can be accessed at https://riversideca.gov/businesstax or by calling (951) 826-5465.
The amnesty period started January 1, 2018 and continues through June 30, 2018. The program seeks to educate all businesses, including home-based businesses or businesses located in another city but operating in Riverside, that a business license is required.
“Nobody likes paying taxes, but it’s better than paying taxes, penalties and interest if your business is found to be operating illegally,” Mayor Pro Tem Jim Perry said. “For business owners who know this is a cost of doing business, but have failed to comply so far, this is a great opportunity.”