If you are a business within the City and County of San Francisco, you may be required to pay your first San Francisco Gross Receipts & Payroll Expense Tax quarterly installment by April 30, 2014. This requirement applies if your San Francisco 2013 taxable payroll expense exceeded $260,000. You are not required to make a quarterly payment if your 2013 taxable payroll expense was $260,000 or less.
Letters were mailed to business owners on March 26, 2014 from The Office of the Treasurer & Tax Collector with information on the new ordinance, and how to report and pay your quarterly installment online at www.sftreasurer.org. To calculate your quarterly installment for year 2014, refer to line 6 of your 2013 Payroll Expense Tax Return. This was your total tax liability for 2013. Each quarterly installment payment is based on 26% of your 2013 tax liability.
The first, second, and third quarterly installment due dates for year 2014 are April 30, July 31, and October 31. The fourth installment will be reported and paid on or before the last day of February 2015.
Business owners will also be receiving their San Francisco Business Registration notices in mid-May. These filings and payments are due no later than June 2, 2014.
More information on the new San Francisco Payroll Expense can be found at www.sftreasurer.org.