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Committee moves payroll-exclusion cleanup to full Board ahead of possible gross-receipts vote
Summary
The committee forwarded an ordinance amending the Business and Tax Regulation Code to preserve a small-business payroll expense exclusion through tax years 2012–2015 if voters approve a gross receipts tax, with analyst estimates the change would reduce revenues by roughly $7.3 million over four years if the gross receipts tax passes.
The Budget & Finance Committee recommended forwarding an ordinance that amends Article 12A (Section 906.5) of the San Francisco Business and Tax Regulation Code to prevent termination of the small-business net new payroll expense exclusion for tax years 2012 through 2015 in the event voters enact a gross receipts tax.
Catherine Stefanie, legislative aide to Supervisor Mark Farrell, described the measure as cleanup language to align the earlier payroll exclusion ordinance with the ballot wording for a…
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