City Attorney and mayoral candidate Dennis Herrera is arguing that the controversy over a proposed tax break for Twitter highlights the need to reform the city’s business payroll tax to help create jobs and foster growth.
“The fact that city leaders have been prompted to craft a narrow tax break to avoid losing one large employer speaks volumes about the far more serious problems with our local business taxation scheme,” Herrera said in a campaign press release. “Whatever happens with the Twitter tax deal, it has highlighted a public policy priority. San Francisco can no longer afford to ignore: we need to replace our business payroll tax with something fairer that creates jobs.”
Herrera notes that among all California cities, San Francisco is alone in basing its entire business tax on payroll. As a result only about 8,000 companies pay the tax out some 80,000 registered to do business in San Francisco... Read more »