08.04.2017
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08.04.2017
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General News
Bob Mahon was quoted in the GeekWire article, "Double Duty: How Startups and Small Businesses Could Be Hit Twice Under Seattle’s New Income Tax," regarding the potential reality of Seattle's new income tax.
“I think they will see the B&O tax stay in place,” he said. “They’re not going to get any relief, is my expectation for B&O tax, and I expect that the income tax, if it is affirmed, will be a second burden on many small businesses. The question is are you a small business person that happens to reside inside Seattle or are you a small business person that resides outside of Seattle?”
Mahon is also worried about competitive challenges for businesses whose owners live within Seattle city limits. Startups that are subject to the income tax will face greater financial burdens than chains setting up outposts in Seattle or companies that operate in the city but have founders who live in neighboring communities, he says.
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