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Council reviews proposal to raise business gross-receipts rate at top tier
Summary
Staff proposed increasing the business gross-receipts rate from 15 to 20 cents per $100 for firms with $10 million or more in sales; staff estimated the change would add about $40,000 next year while council asked for additional impact analysis.
A staff presentation described a narrow change to the business gross-receipts schedule that would raise the 10-million-and-up tier from 15 cents to 20 cents per $100 of gross sales.
As recorded in the briefing: "The change we're proposing is to raise it to 20 cents per 100 on businesses with a gross sales of 10 million." Council members asked follow-up questions about thresholds and distribution effects; staff emphasized this was the primary revenue change in an otherwise balanced proposal.
Council asked staff to model distributional impacts (which businesses would be affected and how household electricity and other bills might be offset by trade-offs elsewhere) before taking a final vote.
