City Looking at Twitter Tax Breaks for All - NBC Bay Area

City Looking at Twitter Tax Breaks for All



    City Looking at Twitter Tax Breaks for All
    Twitter getting paid to stay in the City could be a trend.

    Zynga's Twitter-threat is not falling on deaf ears.

    After the virtual game-maker found out Twitterwas in line to get a sweet tax break from the City, Zynga lined up meetings with San Francisco officials saying it wanted the same thing.

    Now the City appears to be taking the matter even more seriously by cutting off other tech companies who might potentially hold San Francisco over a barrel asking for the same tax break.

    Mayor Ed Le, Supervisor Ross Mirkarimi and Board of Supervisors President David Chiu are all working on measures that would allow tech startups to protect and avoid paying a payroll tax and protect their employees' stock options.

    The politicians are working to change a San Francisco law that allows the City to tax company payrolls and employee stock options when those companies go public.

    The City has been offering Twitter a multi year tax break if the company agrees to stay in San Francisco and move to a new location in the mid-Market area.