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California Voters Approve San Francisco Ordinance Imposing Additional Tax on Businesses to Fund Homelessness Services

Dec. 20, 2018, 9:14 PM

The California Voters Nov. 6 approved an ordinance in San Francisco imposing an additional local corporate income tax on gross receipts of businesses in the city to fund homeless services. The ordinance includes measures: 1) imposing the additional tax on gross receipts above $50 million for entities engaged in business in the city; 2) setting tax rates that vary between 0.175 percent and 0.69 percent depending on the business activities; 3) imposing an additional tax of 1.5 percent on the businesses that pay the tax based on their payroll; and 4) excluding businesses exempt from the existing gross receipts tax. ...