Thursday, Jan 16, 2014

In November 2012 voters approved proposition E, Business Tax Reform, also known as the Gross Receipts Tax and Business Registration Fees Ordinance.  The City will phase in the Gross Receipts Tax and reduce the Payroll Expense Tax over a five-year period, beginning in 2014.

  • Small businesses with less than $1 million in gross receipts or residential property owners with fewer than four units in a building are exempt

  • All businesses will see a change to their business registration fees.

Businesses will not see any changes in their payments until May 2014, when new business registration fees begin. Starting in early 2015, businesses will file the Gross Receipts Tax and Payroll Expense Tax return for Tax Year 2014.

 

TO GET YOU STARTED…

1.

Are you a business with…

2.

Are you a business with…

3.

Are you a business with…

4.

Are you a business with…

$150,000 or less of SF Payroll Expense

$260,00 or less in SF Payroll Expense

              More than $260,00

            in SF Payroll Expense

$500,000

Or less in SF Gross Receipts

$1,000,000

Or less in SF Gross Receipts

            More than $1,000,000

            in SF Gross Receipts

Then…

you will not have to file a Payroll Expense or Gross Receipts Tax Return

Then…

you will have to file a Payroll Expense and Gross Receipts Tax Return

And..

have locations only in SF

And

have locations both inside and outside of SF

But…

you will have to pay a new Business Registration Fee

And…

you will have to pay a new Business Registration Fee

And…

operate in only one business category

Or…

operate in multiple business categories

 

But…

you will have a “Small Business Enterprise” exemption and will not owe additional tax

Then…

you may qualify to use a simple Payroll Expense and Gross Receipts tax form

Or…

claim tax credits

 

 

And…

you will have to pay a new Business Registration Fee

Then…

you will need to provide more information in your Payroll Expense and Gross Receipts Tax form

 

 

 

And…

you will have to pay a new Business Registration Fee

go to www.sfbiztax.org for more information