Legislation Co-Sponsored by Councilmembers Powers and Brannan Will Put Money Back Into Pockets of Small Business Owners and Fuel City’s Recovery
Fulfills Commitment Made in Mayor’s “Renew, Rebuild, Reinvent: A Blueprint for New York City’s Economic Recovery”
New York City Mayor Eric Adams today hailed a new law he actively and strongly pushed for that suspends the city’s liquor license surcharge and puts money back into the pockets of small business owners. The legislation — sponsored by New York City Councilmembers Keith Powers and Justin Brannan — suspends the city’s 25 percent surcharge businesses pay on state liquor licenses for a year and is retroactively effective June 1, 2022. It is estimated that the legislation will help businesses citywide save $6.5 million over the next year. The legislation fulfills a key commitment made in Mayor Adams’ “Renew, Rebuild, Reinvent: A Blueprint for New York City’s Economic Recovery” plan released earlier this year.
“The COVID-19 pandemic hit our small businesses hard, especially our bars, restaurants, and entertainment venues, but we are now lifting them up by helping put money right back into their cash registers,” said Mayor Adams. “Suspending the local tax these businesses currently pay on liquor licenses will help them save money and keep their doors open as they continue to recover. This is yet another promise made, promise kept by our administration. I want to specifically thank Councilmembers Powers and Brannan, who sponsored the bill and who fought tirelessly for our local small businesses.”
“Small businesses are the backbone of our city’s economy, and this administration is committed to helping them during this critical time,” said Deputy Mayor for Economic and Workforce Development Maria Torres-Springer. “This law will provide welcome financial relief to our restaurants, bars, and entertainment venues, which were disproportionately harmed by the pandemic. This fulfils a key commitment from our ‘Rebuild, Renew, Reinvent: A Blueprint for New York City’s Economic Recovery,’ and we thank our partners in the Council for making this a reality.”
“This administration is transforming how city government interacts with small businesses, from bars to family-owned liquor stores,” said Department of Small Business Services Commissioner Kevin D. Kim. “By suspending the city’s liquor license surcharge tax, we’re putting millions back into the pockets of small business owners to fuel our economic recovery. Thank you to Mayor Adams for prioritizing this effort to support restaurants and the hospitality industry, in general, that help make New York City so special.”
“Suspending the liquor license surcharge is just one of many meaningful steps the city is taking every day to help stabilize the nightlife and hospitality industry. The Office of Nightlife knows that any relief and support for these venues goes a long way, as the recovery of liquor licensed establishments is essential to New York City’s recovery,” said Ariel Palitz, executive director, Office of Nightlife at the Mayor's Office of Media and Entertainment.
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