Minimizing Your Taxes and Managing Your Complex Affairs

Tax Tips, Finance Tips, Fun Events

Tips for Individuals, Businesses and Charities. Fun Events.

San Francisco Proposition D- November 2018 Election

San Francisco has two tax initiatives on the November ballot.

The second initiative is Proposition D which makes 2 changes to the gross receipts tax. The media focuses on Prop D as a cannabis tax but it applies to all industries as there are 2 components to Prop D.

New Law 1: Shall the City impose new cannabis business taxes beginning in 2021, at rates ranging from 1% to 5% on gross receipts of cannabis businesses in San Francisco, where the Board of Supervisors could decrease those rates, or increase them up to 7%; AND

New Law 2: Shall the City apply many of its business taxes to businesses with over $500,000 in gross receipts in San Francisco that do not have a physical presence here?

https://voterguide.sfelections.org/en/additional-tax-cannabis-businesses-expanding-businesses-subject-business-taxes

https://www.spur.org/voter-guide/san-francisco-2018-11/prop-d-cannabis-tax-and-e-commerce-tax

Buy a beverage for Richard: If you are enjoying my tax and finance tips and would like to buy me a beverage

https://www.paypal.me/richardponcpatip

Thank you in advance!  Reading up on various and finance issues makes me thirsty.

Richard Pon CPA, CFP