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San Francisco Supervisor Gordon Mar revealed a proposal at a board of supervisors hearing on Wednesday that would put a 1.12% payroll-tax covering stock compensation on the ballot in November 2019. The proposal would combine with the existing 0.38% payroll tax and ultimately mean a restoration of San Francisco’s old 1.5% payroll tax rate — which was the rate until 2011 when the city changed it in a bid to attract more tech firms.

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The city tax on payroll was one reason Bechtel decided to leave SF for Virginia, Maryland and Washington DC area for its headquarters and major offices in the early 2000s.

jaagu
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