File #: 230155    Version: Name: Business and Tax Regulations Code - Gross Receipts Tax Rate Increase Postponement and Credits for Opening City Location
Type: Ordinance Status: Passed
Introduced: 3/21/2023 In control: Clerk of the Board
On agenda: Final action: 7/28/2023
Enactment date: 7/28/2023 Enactment #: 151-23
Title: Ordinance amending the Business and Tax Regulations Code to extend through December 31, 2024, the Gross Receipts Tax rates in effect on January 1, 2022, for the business activities of retail trade, certain services, manufacturing, food services, accommodations, and arts, entertainment and recreation, and postpone to January 1, 2025, the imposition of the Gross Receipts Tax rates otherwise set to go into effect beginning January 1, 2023, for those business activities; and to provide for businesses that open a physical location in certain zip codes in the City on or after January 1, 2023, through December 31, 2027, and that did not have a physical location in the City for at least three years prior to that opening, an annual Gross Receipts Tax credit equal to 0.45% of the business’s San Francisco taxable gross receipts from one or more of the business activities of information, administrative and support services, financial services, insurance, and professional, scientific and technical services, for businesses not engaged in business in the City as an administrative office, or 0.7% of the taxable payroll expense of a business that engages in business in the City as an administrative office, for each of up to three tax years immediately following the tax year in which the business opened the physical location, but no later than the 2028 tax year, and not to exceed $1,000,000 per tax year.
Sponsors: Mayor, Joel Engardio, Ahsha Safai
Attachments: 1. Leg Ver1, 2. Leg Dig Ver1, 3. Leg Ver2, 4. Leg Dig Ver2, 5. Referral FYI 032923, 6. Referral SBC 032923, 7. Cmte Pkt 062123, 8. BLA Rpt 062123, 9. Cmte Pkt 062223, 10. Cmte Pkt 062323, 11. ENC Rpt 062223, 12. Cmte Pkt 062623, 13. BLA Rpt 062823, 14. Cmte Pkt 062823, 15. Public Correspondence, 16. Leg Ver3, 17. Leg Dig Ver3, 18. BLA Rpt 071223, 19. Cmte Pkt 071223, 20. Board Pkt 071823, 21. Board Pkt 072523, 22. Leg Final
Legislation Details
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