Article https://sfstandard.com/politics/san-francisco-housing-todco-amazon-tax-prop-k-guaranteed-income/
In true San Francisco fashion, Prop. K might have been crafted with noble intentions, but it has since blown up in the face of its backers. It was intended to tax Amazon and perhaps some other large e-commerce companies. But because the authors apparently misunderstood both Amazon’s business and the nature of many local enterprises, Prop. K would instead ding hundreds of bars, restaurants and small brick-and-mortar retailers while draining millions from the general fund.
“So what?” Elberling said. “Because you might make a mistake, you shouldn’t do anything? That’s their argument? Yeah, well, frick that.”
Elbering doesn't live in SOMA, he just has a rent free affordable unit he doesn't pay taxes on.
Jump in the discussion.
No email address required.
Spoilers: If over 80% of a company's local business is in an exempt category they are completely exempt from the tax. They decided "Information services" is an exempt category.
Smaller businesses are to be exempt. They decided a good threshold is $2.5 million yearly revenue.
Jump in the discussion.
No email address required.
2.5 million has like 6 digits man. That's a lot. How much revenue could you need?
Jump in the discussion.
No email address required.
More options
Context
More options
Context