Commercial Rent Tax
GVCCC is a signatory to a citywide initiative that aims to provide small businesses targeted relief from the Commercial Rent Tax (CRT). We wanted to be part of a voice directed at Mayor de Blasio and Speak Mark-Viverito to highlight the negative impact this outdated tax has upon small businesses, often threatening their survival. Action needs to be taken before more small businesses go under due to the excess burden of the CRT.
The GVCCC is part of a coalition of nonprofits attempting to raise the exemption of the CRT from 250,000 to 500,000 a year. This tax punishes successful business owners for growing and investing and thus helping to improve their neighborhoods.
You can find information on the CRT here.
You can read the letter sent to the Mayor and City Hall here.