Bloomberg Tax
May 15, 2019, 8:46 AM

‘Twitter’ Tax Break in San Francisco Ends Amid Push for New Funds

Joyce E. Cutler
Joyce E. Cutler
Staff Correspondent

San Francisco’s eight-year-old tax break to encourage tech companies to locate in the city—a.k.a the “Twitter tax break”—is ending with little taste to continue a corporate pass that’s cost the city on average $10 million a year.

May 20 is the sunset for the tax break that’s saved businesses $70.1 million since San Francisco enacted it, the San Francisco Controller’s office said. Companies that located in the the mid-Market Street and Tenderloin area—sections of the city where swanky movie theaters gave way to peep shows and drug dealers—could exclude a portion of their payroll tax. The ...

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