In November San Francisco voters will decide whether to replace the city’s second most lucrative tax, a business tax on local payrolls, with a business tax on local gross receipts.
Under the city’s current Business Expense Tax, businesses are generally taxed 1.5 percent on all payrolls in excess of $250,000 for employees who perform work or render services in the city. The Payroll Expense Tax generated about $410 million last year, equivalent to 12 percent of S.F.’s general fund revenue.
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