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 ...