San Francisco offers city-wide tax break to prevent startup exodus
NYTimesreports that San Francisco’s tech start-ups have just been granted a tax break as the Board of Supervisors approved a tax holiday that could save Zynga, Yelp and other SF-based Internet companies millions. The newly passed ordinance, which is in effect until 2017, caps the annual tax bill on stock-based compensation at $750,000 for newly public companies or what they paid in 2010 – which ever was greater. Supervisor Ross Mirkarimi, proposer of the latest city-wide tax break, said his ordinance creates a more uniform tax policy for the city....