Minimizing Your Taxes and Managing Your Complex Affairs

Tax Tips, Finance Tips, Fun Events

Tips for Individuals, Businesses and Charities. Fun Events.

San Francisco Propositon C - November 2018

San Francisco has two tax initiatives on the November ballot.

The first initiative is Proposition C.

Shall the City impose additional business taxes to create a dedicated fund to support services for homeless people and prevent homelessness, including one tax of 0.175% to 0.69% on gross receipts over $50 million that a business receives in San Francisco, and another tax of 1.5% on certain administrative offices’ payroll expense in San Francisco, raising an estimated $250–300 million in combined tax revenues annually, and with no expiration date for these taxes?

The Prop C battle was covered in the New York Time last week. For the story on how tech titans are fighting over this see:

https://www.nytimes.com/2018/10/19/technology/san-francisco-taxes-homeless.html

Richard Pon CPA, CFP