(Seattle Channel video of this afternoon’s council meeting – public comment at 17:58, tax items at 59:08)
Ample citywide coverage of the City Council’s final vote on the “head tax” this afternoon – but we’re noting it here anyway. For one, the two West Seattle-residing councilmembers – District 1’s Lisa Herbold and citywide Position 9’s Lorena González – led the task force that brought the concept to the council in the first place. From the official news release, details on the compromise that passed in a 9-0 vote:
… The amended proposal establishes an annual tax of $275 per full-time employee on the City’s largest businesses, those with revenues of more than $20 million (about 3% of all businesses). The measure would generate an estimated $47 million annually and end on December 31, 2023.
… Selected highlights of the amended ordinance include:
*Exempt Seattle’s small and medium-sized businesses, only applying to those with at least $20 million or more annually in taxable gross receipts as measured under the City’s existing Business & Occupation tax;
*Apply only to the City’s approximately 585 largest businesses, or approximately 3% of all Seattle businesses;
*Require large businesses to pay $275 per full-time equivalent employee working 1,920 hours per year (or about $0.14 per hour);
*Include an evaluation of the economic impacts, and an independent oversight committee; and,
*Exempt healthcare providers that provide at least 25% of their services to patients covered by Medicare and Medicaid as well as all hospitals. …
You can read the amended plan here. Here’s some of what’s happened in the hours since the council vote:
*Amazon said it’s “disappointed” and “apprehensive” (GeekWire.com coverage)
The tax starts in January. But first, as was noted in Q&A at Durkan’s news conference, a spending plan has to be finalized for the money it will raise.