Grace Period for Morro Bay Businesses Not in Compliance
Morro Bay is giving businessess who are out of compliance with their business licenses a 90 day window to meet their requirements without penalty. After conducting an audit, "city officials estimate that Morro Bay has lost about $200,000 in revenue per year in business license taxes — about 2 percent of the city’s general fund."
"An audit conducted for the council expects the city to recoup about $1 million in unpaid taxes and penalties, Buckingham said. With a penalty waiver, that amount could drop to about $700,000."