San Francisco Overhauls Business Taxes to Lure Large Companies

San Francisco is preparing a welcome mat to reward tech giants that weathered the Covid storm and lure new companies with a simpler tax system that benefits the city’s largest and smallest companies.

The voter-approved tax overhaul that kicks in Jan. 1 acknowledges the new work-from-anywhere reality and San Francisco’s sluggish recovery for the hospitality industry and small businesses that rely on foot traffic to survive. City leaders expect the comprehensive corporate tax package to diversify the business tax base, reduce the city’s risk of tax disputes with large companies, and bring more businesses into tax compliance.

“San Francisco ...