San Francisco's Controller's Office has weighed in on what may be the city's most viable path to recovery: meaningful tax reform that diversifies the tax base while paring stratospheric business taxes.
Here's what we mean by stratospheric: a tech company with $30B in sales and 10,000 local employees pays 20 times more in local business taxes that it would if it were located in Mountain View, 200 times more than in San Jose and 1,300 times more than in Sunnydale.
That's one of the findings of a report issued this week by the Controller's Office in response to a letter of inquiry from Supervisor Rafael Mandelman, according to a report in the San Francisco Standard.
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