Be In The Know! Business Tax Changes Ahead
In the next few weeks all businesses in San Francisco will receive a letter from the Treasurer for the City & County of San Francisco informing them of new tax filing requirements for February 2015. The letter will contain a Business Account Number and Online PIN number unique to each business and what the business will use to to file online with the Treasurers office.
Your businesses may be required to file and or remit San Francisco Payroll Expense Tax and/or Gross Receipts Tax in February 2015 for the 2014 tax year. Your business may be exempt if:
- You have less than $150,000 in San Francisco payroll expense for the 2014 tax year (before you apply the small business exemption)
- And you have less than $500,000 in San Francisco gross receipts for the 2014 tax year
- Then you will not have to submit a filing for the Payroll Expense Tax and Gross Receipts Tax in February.
GGRA is hosting a free seminar in partnership with the Treasurer’s office on January 27 at the San Francisco Public Library Main branch for restaurants to learn more about the business tax changes.
For more information regarding the Gross Receipts Tax, visit www.sfbiztax.org.