City of Concord Measure O: Business License Tax Update
Source: results.enr.clarityelections.com
What does this measure do?
Replaces Concord's tiered business license tax, where bigger businesses pay lower rates, with one rate of 0.1% of sales for all businesses taxed on sales, and exempts businesses making under $5,000. Residents pay no new tax, and the city gets about $2.9 million more a year for general services.
Read the official ballot measure
Proposed by: Concord City Council (Resolution 26-52, 5-0 vote)
The city's elected council. It voted to put this business license tax change to voters. In California, a new or higher local tax needs voter approval.
Source: contracostavote.gov
A YES vote means
Most businesses taxed on sales pay the same 0.1% rate, so larger businesses pay more, until voters end it. Very small businesses under $5,000 a year are exempt. The money goes to the city's general budget.
A NO vote means
Concord keeps its current business license rates, which drop from 0.1% to 0.03% as sales grow. The city does not get about $2.9 million a year in new money.
Source: cityofconcord.org
Sources: contracostavote.gov2