By Philip Haldiman | YourValley
Peoria’s business community scored a win this week after a monthslong battle over the controversial amusement tax when the city council unanimously approved a measure Nov. 14 to essentially erase several years worth of back taxes for certain businesses.
The measure established an effective date for the transaction privilege tax on dance, martial arts and gymnastics studios within the city of Peoria that charge for related instruction.
Some businesses were audited and ordered to pay back taxes in the tens of thousands of dollars.
Approval of the measure will erase those back taxes and place the effective date as Jan. 1, 2024, allowing those businesses to start paying the amusement tax then, with no retroactive penalties.
Peoria Chamber of Commerce CEO and President Rhonda Carlson said this is a step in the right direction and is thankful to the city for its due diligence and finding a great compromise.
