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Hotel and Restaurant Trade Slides Due to Tax Rules
NEW YORK and Washington report a downturn in hotel and restaurant activity in the first half of the year with occupancy and sales plunges attributed to Uncle Sam’s expense account tax depletion rules. Officials cite rule confusion, overbuilding, private-sector stricter controls, and crime publicity as contributing factors, with estimates of substantial annual losses and a broad decline in business across major urban centers.
MENTIONED IN THIS ARTICLE
New York
Uncle Sam
Vlad
Washington
New York City
Hotel Associaion
New York State Restaurant Association
William Thomas Power
National Restaurant Association
Jane
Power
Bourbon Dawes
The
Hotel Association of Washington