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El Segundo, CA- The City of El Segundo recently established a Business License Tax Money-Back Guarantee Program to attract new businesses by refunding one year's worth of business license tax, if the business decides to leave the City within one year.
Eligible businesses must have at least 5,000 square feet of floor area and a minimum of ten employees at its location within the City. A business may only use this program once, and the program will not apply to any business that opens after January 1, 2023.
"The City understands that businesses across all industries are struggling to recover from the COVID-19 pandemic," said Deputy City Manager Barbara Voss. "We pride ourselves on being a business-friendly city and one of the most sought-after locations in the L.A. region for businesses to thrive. We launched this program to give companies another great reason to relocate here."
Currently, new businesses in the City pay for an initial business license tax that is based on the taxpayer's best estimate of the average quarterly number of employees, square feet and business locations within the City over the course of the calendar year. Under the new program eligible businesses may apply to the City for a refund within 12 months of opening.
The City remains fully committed to promoting economic growth and vitality for businesses and the community. The program is another example of why El Segundo maintains its reputation as a business-friendly city that offers low business license taxes, a highly-skilled workforce, an extensive supply chain network and an ideal location.
For more information about obtaining a business license, click here.
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