Mayor Villaraigosa Announces Business Friendly Tax Penalty Amnesty Program

FOR IMMEDIATE RELEASE Contact: Casey Hernandez June 3, 2009 (213) 978-0741 MAYOR VILLARAIGOSA ANNOUNCES BUSINESS FRIENDLY TAX PENALTY AMNESTY PROGRAM The Program provides an opportunity to pay delinquent City taxes and avoid up to 40 percent in penalties LOS ANGELES – Mayor Antonio Villaraigosa today along with members of the business community announced the Tax Penalty Amnesty Program. The amnesty program is a business friendly opportunity for businesses that owe back business taxes or have not registered with the City of Los Angeles to avoid 40 percent in penalty fees. This program is projected to generate approximately $10 million for the City. “Businesses create jobs and promote economic development and by paying their fair share of City taxes, businesses support the essential services that make our city safe and vibrant,” Mayor Villaraigosa said. “This is a unique window of opportunity, and I encourage all eligible businesses to participate.” Through July 31, 2009, businesses with unpaid taxes or under reported gross receipts or those who have not registered with the Office of Finance can benefit from the Tax Penalty Amnesty Program. The program is an opportunity for business owners to clear their tax records without paying any of the normally required penalties, which can amount to up to 40 percent of the principal tax due. Every business in the City of Los Angeles, regardless of where it is located, usually owes business taxes. The following City taxes qualify for amnesty: - Business Tax - Telephone, Electricity, & Gas Users Taxes - Commercial Tenant’s Occupancy Tax - Transient Occupancy Tax - Parking Occupancy Tax Also present today with Mayor Villaraigosa were Mel Kohn, member of the Business Tax Advisory Committee; Matthew Toledo, First Vice Chair of the Board of Directors for the Los Angeles Area Chamber of Commerce and Publisher of the Los Angeles Business Journal; Daymond Rice, Vice Chairman of the Valley Industry & Commerce Association (VICA); Roberto Barragan, President of the Valley Economic Development Center (VEDC); Veronica Perez-Becker, Vice President of Legislative Affairs for Central City Association of Los Angeles; and Antoinette Christovale, Director of the Office of Finance. To take advantage of the amnesty program call the L.A. Tax Amnesty Hotline at (213) 978-1555 weekdays from 8:00 A.M. to 5 P.M. or go to www.lacity.org/finance/amnesty/ for more information and office locations. # # #