Your Input Needed on Gross Receipts Business Tax Reform June 14, 2012 Local Events, News gross receipts tax, San Francisco business tax reform 0 Two separate ballot measures to reform San Francisco's business tax policies were introduced at the Board of Supervisors meeting Tuesday. Both proposals, one put forward by Mayor Ed Lee and board president David Chiu and the other by Supervisor John Avalos, seek to eliminate the city's 1.5 percent payroll tax and replace it with a gross receipts tax that would tax the annual revenue of a business. The first, introduced by Mayor Lee and Board President Chiu, proposes to generate an additional $13 million in revenue. The second, introduced by Supervisor Avalos and co-sponsored by Supervisors Olague, Campos, Kim, and Mar proposes to generate an additional $40 million in revenue. Please note that multiple Supervisors expressed their desire to merge the proposals into one over the next 30 days. Click here to view Mayor Lee and Board President Chiu's proposal. Click here to view Supervisor Avalos' proposal. The Office of Small Business and Small Business Commission will be working with the legislative sponsors and the Controllers office to perform analysis and updates will be provided in the upcoming weeks. The Small Business Commission will be holding a hearing on June 25, 2012 at 2:00pm in Room 400 on these ordinances. It is important to get you and your organizations feedback on the gross receipts tax and license fee increase changes. Please remember, this proposal was initially intended to be revenue neutral and now is moving in the direction of having $13-$40 million in additional revenue. Comments are closed.
