Extension of City B&O Tax Deadline to Oct 31
At its April 7 video meeting, the Mercer Island City Council passed an ordinance that temporarily allows Island businesses to delay Business and Occupation (B&O) tax payments. Over the past few weeks, the City has heard from the Chamber of Commerce as well as a number of business owners about the undue financial hardships caused by the COVID-19 emergency and mandatory closures.
For businesses that submit their B&O tax payments quarterly, the Council amended the City’s code allowing the Finance Director to extend payment deadlines this year during the declared COVID-19 emergency. The extensions would apply to businesses earning gross receipts of at least $250,000 per quarter; all other businesses (earning at least $150,001 per year) pay their B&O tax annually.
The Director has announced that first and second quarter payment deadlines will be extended to October 31, 2020.