New York City Mayor Eric Adams announced a new bill suspending NYC’s liquor license surcharge, making good on a commitment made earlier this year in his “Renew, Rebuild, Reinvent: A Blueprint for New York City’s Economic Recovery” .
Here’s what you should know about the new legislation:
- it suspends the City’s 25% liquor license surcharge that businesses pay on state liquor licenses,
- is retroactively effective June 1st, 2022,
- it’s estimated to help businesses save $6.5 million over the next year, saving small business owners an average of $400-$500,
- it gets rid of license and permit issuance delays caused by an accidental late payment of the liquor license surcharge.
“The COVID-19 pandemic hit our small businesses hard, especially our bars, restaurants, and entertainment venues, but we are now lifting them up by helping put money right back into their cash registers,” said Mayor Adams.
Thank you, Mayor Adams, Council Members Keith Powers, Justin Brannan, the NYC Hospitality Alliance, and all those that advocated and helped make this happen. Our restaurants, bars and nightclubs need all the help they can get. Follow this link to view the press release.