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March 16, 2011 11:55 am GMT
San Francisco Supervisor John Avalos hates the idea of businesses not paying a 1.5% tax on payroll and employee stock option gains (see his brilliantly stupid quote here). The fact that San Francisco is the only city in California to charge a payroll tax at all doesn't seem to matter to him. Or that it's the only city in the world to charge a local tax on stock options. Or that Twitter and other startups will simply leave if the taxes stand. Or even, apparently, that the city's own economists disagree with him. A new report published by the city and county's Office of the Controller outlines the absolute absurdity of San Francisco's tax treatment of technology startups. The entire report is embedded below.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/XuizU7fS020/
San Francisco Controller Publishes Candid Report On How Badly They Need Twitter
San Francisco Supervisor John Avalos hates the idea of businesses not paying a 1.5% tax on payroll and employee stock option gains (see his brilliantly stupid quote here). The fact that San Francisco is the only city in California to charge a payroll tax at all doesn't seem to matter to him. Or that it's the only city in the world to charge a local tax on stock options. Or that Twitter and other startups will simply leave if the taxes stand. Or even, apparently, that the city's own economists disagree with him. A new report published by the city and county's Office of the Controller outlines the absolute absurdity of San Francisco's tax treatment of technology startups. The entire report is embedded below.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/XuizU7fS020/
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