Giving help to small business

The OlympianMay 1, 2014 

The Lacey City Council approved a tax break for small, new businesses in the city.

Beginning Jan. 1, any business with less than $500,000 of gross revenues per year won’t have to pay a business and occupation tax.

The tax break is largely symbolic, sending a signal that Lacey is a welcoming place for new businesses and where entrepreneurs can get a fresh start in the wake of the Great Recession.

The B&O tax is particularly loathsome to businesses because of the paperwork and the requirement to pay, even if a business is not turning a profit.

The tax exemption represents a revenue loss of about $30,000 a year for the city. But the City Council made short work of the deficit by approving an annual business license renewal fee of $10 per year.

Lacey had been one of only a few cities that didn’t require annual renewal of business licenses. Without the license renewal, it was hard to maintain an accurate data base of the number and types of businesses in the city.

Both moves last week had merit. One provided benefits to startup businesses and the other improved record-keeping at City Hall.

Bellingham Herald is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere in the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Commenting FAQs | Terms of Service