Occupational Tax Changes-City of Sandy Springs
At the City Council meeting of the City of Sandy Springs, major tax reform was passed which will have a significant POSITIVE impact on small to large businesses in Sandy Springs. The Chamber has been working in concert with the Perimeter CID, the City of Sandy Springs and area business executives to come up with a very attractive occupation tax structure which will be a "winner" for all involved. Sandy Springs is at the "top of the key" and is the up and coming "new urban center." As an important part of the region for transportation and access, and over 8,000 companies located here, this is important news. We have some of the Fortune 500 "Who's Who" companies headquartered here and, with these new reforms, Sandy Springs will be in the "bulls eye" for future relocations to our City and region.
The significant changes are:
The Occupational Tax Gross Receipts for Services will apply to sales in Georgia, only (retroactive to 1/1/2006.)
The calculation of Occupational Tax on gross receipts for franchise fees will be based on franchisees located in and revenue from Georgia, only (retroactive to 1/1/2006.)
There will be a reduction across the board by 8% of all occupational tax AND the cap will be reduced from $400,000/year to $75,000/year! There will be only one fee per parent company (no additional fees for subsidiaries.) There will be an annual adjustment (up or down) based on the cost of living index. This will benefit the smallest to the largest company in Sandy Springs.
The amazing part of this is the "esprit de corps" among the Chamber, Perimeter CID and City of Sandy Springs. This huge effort on the part of many people only took four months to complete - which has to be "some sort of record." These changes will affect the very smallest company to the largest/international corporations located in Sandy Springs.
Sandy Springs, as a key regional gateway, has so much to offer: state of the art medical facilities, prime office space, hotel/meeting space, retail, exceptional dining (one of the reasons I live here,) top quality education, access to GA 400 and I-285 and I-85, five MARTA rapid transit stations in the Perimeter area to get to Hartsfield-Jackson International Airport and "move people where they need to go," arts (with Arts Sandy Springs leading the charge), beautiful residential areas and parks - everything you need to work and play is right here - without the long commute. With this new reform, Sandy Springs has truly become "a business friendly destination" for any business which is already here or thinking about moving here which is the Chamber's primary focus.
We are proud of our community and wanted you to be aware of these important tax reforms.
Debbie Goldman
Sandy Springs/Perimeter Chamber of Commerce
Chairman of the Board
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