San Francisco’s payroll tax was kicked to the curb in the November election and replaced with a levy on businesses’ gross receipts. Now comes the hard and costly part: implementing the new and complex tax structure.
To that end, The City plans to spend $2.57 million this fiscal year alone on increased staff and technology services to plan for phasing out the payroll tax and setting up the gross receipts system.
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Although agreement remains elusive on a single November measure to replace San Francisco’s business payroll tax with a tax on gross receipts, supervisors revised each of two competing proposals Thursday.
Significant changes are expected next Wednesday, when the Board of Supervisors Budget and Finance Committee must act to meet a July 31 deadline for the full board to place one or both of the dueling measures on the November ballot.
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The City’s patchwork of tax breaks for various industries will live on even if voters replace its payroll tax on businesses with a gross-receipts tax under Mayor Ed Lee’s proposed November ballot measure.
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Even as negotiations with business leaders are ongoing, Mayor Ed Lee will introduce a proposed November ballot measure today that would replace San Francisco’s payroll tax with a tax on businesses’ gross receipts.
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If The City opted to modify its business payroll tax instead of switching to a gross receipts tax, it would be easier to administer, but not be as equitable nor act as a job creator, according to analysis by the City Controller’s Office.
Mayor Ed Lee and Board of Supervisors President David Chiu have advocated a new city tax system because they say the payroll tax penalizes job growth and discourages companies from remaining in The City.
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San Francisco business groups said they are squeamish over a proposal to replace a tax on payroll with one on gross receipts. Businesses are busy calculating the impact if voters ultimately approve the gross receipts tax in November.
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URL: http://www.sfexaminer.com/topics/gross-receipts-tax?quicktabs_1=0&quicktabs_6=1
