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Accounting & Bookkeeping|Business Operations|Business Tax|Individual Tax

San Francisco Payroll/Gross Receipts Tax Changes

May 6, 2014 • Author : admin_bregante
San Francisco Payroll/Gross Receipts Tax Changes
San Francisco Panorama 3
A photo of San Francisco skyline looking eastward from the Russian Hill area. This is a seamlessly stiched panoramic shot with a lot of sharp detail. Most of the famous landmarks are in this shot: Bay Bridge, Transamerica building, BofA Building, Coit Tower etc. Yerba Buena island and East Bay / Oakland is in the background.

The City of San Francisco passed The Gross Receipts Tax and Business Registration Fees Ordinance (i.e., Proposition E) on November 6, 2012. Beginning in 2014, the calculation of the SF Payroll Tax changes in two significant ways: (1) the tax begins its transition to the gross receipts tax, so there is a declining payroll tax component and an increasing gross receipts tax component, and (2) the tax is due in quarterly installments, instead of bi-annual installments, with the first installment due on April 30. For more information click here and here.