Amid Budget Shortfall, San Francisco Re-Examines Tax Burden On Big Businesses

Published on April 18, 2024

Facing mounting budget woes this election year, as spending far outpaces revenues, the City of San Francisco is scrambling to reform its infamously large and complex tax burden on business. San Francisco’s five largest employers now account for nearly a quarter of the city’s total business tax revenue, according to an April 14 report in the San Francisco Examiner. If any were to relocate outside of the city, such would leave San Francisco—currently facing an $800 million budget deficit—vulnerable. As such, Mayor London Breed and city officials are currently negotiating with business leaders and labor to devise tax reform measures for the November ballot that could simplify its tax code and even out the load on top businesses, the Examiner reported....

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