NYC Council Introduction 63

intro.nyc/0063-2024 2024-2025 Legislative Session
Exemption from the commercial rent tax.
Status: Committee Committee on Finance
Sponsored by Keith Powers
Introduced: February 8, 2024

Currently, billboards and advertising signs are considered taxable premises for purposes of the commercial rent tax and the rent paid to advertise on those spaces is subject to the tax. This bill would exempt the rents for premises within the Theater Subdistrict solely used for the purpose of advertisement.