The New Jobs Payroll Tax Exclusion Measure is scheduled to be heard by the San Francisco Budget and Finance Committee on February 24, 2010 at 11:00 a.m. at City Hall, Room 250. BOMA San Francisco building owners, property managers/tenants and vendors should attend the committee hearing to support payroll tax relief for the businesses in San Francisco.
Please click here to view BOMA San Francisco's letter of support.
- San Francisco has an unemployment rate of 9.4%, up from 6.5% a year ago. In other words, there are 41,700 unemployed people in San Francisco.
- San Francisco imposes a local business tax on job creation in the form of a payroll tax. The City needs to incentivize job creation by temporarily eliminating the payroll tax on new job growth. This proposal quite simply reduces the cost of creating a job.