Since 2012, San Francisco has undergone many changes with its payroll and gross receipts taxation. From imposing a single payroll tax to adding a gross receipts tax on various real estate entities, including commercial rentals and gathering funds to assist the homeless population. Due to all the changes, many business owners are confused. Is my business subject to this tax? How do I calculate the tax if I owe it? How can I plan for the next tax year to minimize the tax I owe?
BPM’s John Hayashi, Managing Director of Tax who works specifically with State and Local Taxes (SALT) gives tips and information on what you need to know before filing these forms as part of your Annual Business Tax Return.
John Hayashi, JD
With nearly 30 years of public accounting and private industry experience in State and Local Taxes (SALT), John helps his clients respond to SALT issues, with a specialization in sales tax and use tax that's currently in high demand after the Supreme Court's decision in South Dakota v. Wayfair, Inc. (2018). BPM's SALT group serves as a single point of contact for clients to analyze their state and local tax liabilities, as well as state and local tax deductions. John listens to client needs to plan and implement strategies that minimize identified liabilities.
For more information on the San Francisco Payroll and Gross Receipts Tax, please contact John Hayashi or your BPM tax advisor.