An hour before one of the most sensitive votes to revitalize a blighted area of Market Street by giving companies such as Twitter a six-year payroll tax break to move in, two San Jose city council members are reminding everyone that the Silicon Valley doesn’t believe in such payroll taxes.
“The City of San José’s doors are open, with no payroll tax, free parking, and easy permitting processes that cater to the business community,” read a press release from the offices of councilmembers Rose Herrera and Sam Liccardo.
“San Francisco is one of the only cities in the nation that has a payroll tax,” read the release. “Additionally, San Francisco’s Tax Code counts stock options as part of payroll, concerning many newer companies considering a public offering. This is a hit for employers and employees.”
The point of the release was only to outline the friendly business climate that already exists in San Jose, according to Herrera’s aide, Jennifer Malutta. It was in no way meant to sabotage San Francisco’s own efforts, she added.
Just putting that out there.