Paramount officials have hired a tax consulting firm to seek ways of generating more revenue by finding businesses that are not contributing their share of city sales tax.
The City Council on Tuesday hired Hinderliter, de Llamas and Associates of Glendora. The company will get paid only if it finds new revenue, taking a commission of 30% of the new revenue. For example, the company would receive $4,500 of $15,000 in sales taxes owed to the city.
Paramount traditionally has kept account of its sales taxes, but needs expert help in searching out and identifying potential new sales taxpayers, officials said.
In addition to auditing and identifying new sales tax revenues, the consulting firm will provide assistance and advice to local businesses on how they might increase their sales tax revenues to the city.
The consulting company is run by Bob Hinderliter, a former city administrator and finance director for the City of Commerce, and Lloyd de Llamas, a former city manager for Monterey Park.