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Board OKs payroll‑expense tax exclusion for small businesses through 2015; 10–1 vote
Summary
The Board of Supervisors adopted an ordinance to permit a payroll expense tax exclusion for net new payroll for small businesses through 2015. Supporters said the measure will spur hiring; one supervisor voted no and several flagged fees and broader tax reform as outstanding concerns.
The Board of Supervisors voted to adopt an ordinance amending the Business and Tax Regulations Code to permit a payroll expense tax exclusion for “net new payroll” at qualifying small businesses effective through 2015.
Why it matters: Supporters said the exclusion is designed to encourage hiring by small enterprises at a time when the city is shifting major revenue policies. The ordinance is intended as a temporary incentive tied…
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