(a) Except as provided in subsection (b), if any section, subsection, sentence, clause, phrase, or word of this Article 33, or any application thereof to any person or circumstance, is held to be invalid or unconstitutional by a decision of a court of competent jurisdiction, such decision shall not affect the validity of the remaining portions or applications of this Article. (b) The Overpaid Executive Gross Receipts Tax imposed by this Article 33 is in addition to all other City taxes, including the gross receipts tax imposed by Article 12-A-1, as amended from time to time. (c) For purposes of this Section 3303, “taxable gross receipts” means a person or combined group’s gross receipts, not excluded under Section 3304, attributable to the City. Post was not sent - check your email addresses! Over the last 30 years, executive salaries in the United States have skyrocketed by 940 percent. (b) If a person is subject to the Overpaid Executive Gross Receipts Tax, but is not required to file a gross receipts tax return under Article 12-A-1, such person or combined group’s Overpaid Executive Gross Receipts Tax return shall be filed at the same time and in the same manner as if such person or combined group were required to file a gross receipts tax return under Article 12-A-1. San Francisco, de forma oficial Ciudad y Condado de San Francisco (en inglés: City and County of San Francisco), es una ciudad que ocupa la cuarta posición de ciudad más poblada del estado de California y la 13.ª de Estados Unidos, con una población de aproximadamente 884 382 habitantes en 2013. This tax measure would repeal a 2018 parcel tax to fund schools and replace it with a lower tax, and add exemptions, which proponents hope will result in voters approving it by a higher margin. • For a business that pays the Administrative Office Tax, if its Top Executive Pay is more than 100 times Employee Pay, the business would pay an additional tax from 0.4% to 2.4% of its San Francisco payroll expense. It was approved . Appropriations Limit Increase. A five person company having a CEO that makes 101 times that of each of his four employees does seem harsh and a bit predatory (not to mention probably not workable), but if a company wants to perform to an international audience it necessitates several orders of magnitude of complexity and nuance to compete and be successful. Proposition L. Business tax. In that case, the additional tax rate would range between 0.1 percent and 0.6 percent of its gross receipts or 0.4 percent to 2.4 percent of its payroll expense. SEC. San Francisco will tax businesses slightly more if a chief executive earns orders of magnitude more than their rank-and-file employees after residents voted in favor of the rule. As to the human side of this, outside just the numbers of tax liability, it is highly doubtful the CEOs are going to relinquish their “excessive pay” regardless if the company has to ante up the tax. Get results for San Francisco Bay Area, California and national 2020 elections here. Jan 16, 2021, 07:30am EST ... San Francisco’s Proposition D, Which Could Have Massive Implications For Retail. Taxes collected are to be deposited in the General Fund. “San Francisco is a modern day version of a A Tale of Two Cities everywhere you look, we can’t have a nation that turns into that.” • This article was amended on 23 November 2020. Final election results will be included on the individual Measure pages after the election on November 3, 2020. Perhaps it is explained in the paragraph below. . The views expressed in this posting are the author’s alone and not those of the blog, the host, or other weekend bloggers. Fiscal years run from July 1 to June 30. The extra money will go toward healthcare. Proposition J: Parcel Tax for San Francisco Unified School District Proposition K : Affordable Housing Authorization Proposition L : Business Tax Based on Comparison of … San Francisco voters are in favor of a tax hike on companies whose CEOs earn a lot more than their ... (or 65.18 percent) approved Proposition L. The measure, ... Election 2020 san francisco news. Nowhere in the Proposition does it delegate where the CEO tax revenue will be allocated specifically. Proposition L. (c) Compensation paid to an employee who was employed by the person or combined group for only a portion of the tax year shall be “annualized” by multiplying the employee’s Compensation (or, as stated, for a part-time employee, full-time equivalent Compensation) for the tax year by 52, and dividing the result by the number of weeks that the employee was employed by that person or combined group during the tax year. (a) Persons subject to the Overpaid Executive Gross Receipts Tax shall file returns at the same time and in the same manner as returns filed for the gross receipts tax imposed by Article 12-A-1, including the rules for combined returns under Section 956.3, as amended from time to time. Comey Calls For the Republican Party To Be "Burned Down", FBI: Woman Who Stole Pelosi's Laptop May Have Tried To Sell It To The Russians, "Everybody's Mistakes Except My Own": Trump's Final Pardon List Offers A Telling Reflection On His Legacy, The No-Show Option: Trump Could Sit Out The Senate Trial And Still Prevail, Yes, Biden is President . “San Francisco is one of the most desirable cities in the United States for companies to be located in. Dec. 2, 2020 at 2:00 p.m. UTC. The ISF Ballot Proposition team reviewed the San Francisco Ballot Propositions for November 2020. (a) This Article 33 is intended to authorize application of the Overpaid Executive Gross Receipts Tax in the broadest manner consistent with its provisions and with the California Constitution, the United States Constitution, and any other applicable provision of federal or state law. ~+~ END ~+~. Section 4. Five Year ... of San Francisco The overpaid executive administrative office tax shall be calculated as follows: (1) 0.4% of the person or combined group’s total payroll expense attributable to the City for a tax year if the person or combined group has an Executive Pay Ratio for that tax year of greater than 100:1, but less than or equal to 200:1; (2) 0.8% of the person or combined group’s total payroll expense attributable to the City for a tax year if the person or combined group has an Executive Pay Ratio for that tax year of greater than 200:1, but less than or equal to 300:1; (3) 1.2% of the person or combined group’s total payroll expense attributable to the City for a tax year if the person or combined group has an Executive Pay Ratio for that tax year of greater than 300:1, but less than or equal to 400:1; (4) 1.6% of the person or combined group’s total payroll expense attributable to the City for a tax year if the person or combined group has an Executive Pay Ratio for that tax year of greater than 400:1, but less than or equal to 500:1; (5) 2% of the person or combined group’s total payroll expense attributable to the City for a tax year if the person or combined group has an Executive Pay Ratio for that tax year of greater than 500:1, but less than or equal to 600:1; or. Deletions from Codes are in strikethrough italics. Prop. The “Overpaid Executive Tax,” formally known as Proposition L, will charge any company that does business in San Francisco and has a top executive … I have to wonder how they would treat Deferred Compensation or issuing executives Convertible Bonds or even reclassifying the executives as independent contractors who “work” eleven months  per year and are actually self-employed. In the November 2016 election, San Francisco voters passed Proposition N, Non-Citizen Voting in School Board Elections, by a vote of 54% to 46%. Not that it is any of my business what one of my employees does with his or her wages, but in having to project and anticipate costs if you pay them too much the greedier they sometimes become. The 2018 measure is being challenged in court over its required voter threshold (see the Backstory section). ARTICLE 33: OVERPAID EXECUTIVE GROSS RECEIPTS TAX, This Article 33 shall be known as the “Overpaid Executive Gross Receipts Tax Ordinance,” and the tax it imposes shall be known as the “Overpaid Executive Gross Receipts Tax.”. Some have wide consensus such as encouraging the endowment of charities with cash in exchange for tax credits and deductions, while others seem more of punishment to be used to enforce an idealized social value, which I have stated for years is not a proper role of politicians or government. The results listed below and in all reports from sfelections.org are totals for San Francisco only. View our Voter Resources page for additional San Francisco County and statewide election information and resources. On November 3, 2020, California voters approved Proposition 19, the Home Protection for Seniors, Severely Disabled, Families and Victims of Wildfire or Natural Disasters Act. If their conviction against “excessive” CEO compensation is to be genuine then how is it not unsavory that mega-churches, hospitals, and big charities can pay their executives however richly their boards of directors choose? We believe that big corporations that can afford to pay their executives million-dollar salaries every year can afford to pay their fair share in taxes to help us recover. Proposition L [PDF], dubbed “the CEO tax,” passed with 65.2 per cent approval this week. Share ... About Us. Introduced by Matt Haney, a member of the US city's Board of Supervisors, it increase taxes for businesses if the so-called executive pay ratio exceeds 100:1. Documents. 3309. The “Overpaid Executive Tax,” formally known as Proposition L, will charge any company that does business in San Francisco and has a top executive earning over 100 times more than their “typical local worker,” according to the tax’s author, Matt Haney, a … As an open forum, weekend bloggers post independently without pre-approval or review. Res ipsa loquitur – The thing itself speaks. If a person is a member of a combined group, then its tax shall be measured by the total payroll expense of the combined group attributable to the City. News Politics Election 2020 Education Housing Immigration Criminal Justice California more. The March 2020 San Francisco election proved successful for funding essential City services. No section, clause, part, or provision of this Article 33 shall be construed as requiring the payment of any tax that would be in violation of the Constitution or laws of the United States or of the Constitution or laws of the State of California. The landmark labor law known known as AB5 threatens to upend the app-based business model, which offers great flexibility to drivers who can work whenever they choose. (b) This ordinance shall become operative on January 1, 2022. Proposition L , dubbed “the CEO tax,” passed with 65.2 per cent approval this week. Now that the company has slashed its San Francisco employee base, that is, only its lowest and medium compensated members, the median employee rate just went into the highly paid professional level and brought the CEO an even greater level of compensation potential before the CEO tax kicked in. By Darren Smith, Weekend Contributor Voters within the City of San Francisco passed Proposition L, a measure designed to tax corporations having CEO compensation in excess of 100 times the median compensation of line employees. Oct. 3, 2020 | Updated: Oct. 6, 2020 8:40 a.m. ... A measure that would authorize San Francisco to build or rehabilitate up to 10,000 units of affordable housing. Proposition J would sunset the annual parcel tax on real property in San Francisco approved by the voters in June 2018 (Measure G), that as of July 1, 2021 would be $320 per parcel, and replaces it with a parcel tax of $288. Was it due to the reality of federal supremacy regarding the taxation of non-profits or city politicians’ political deference to charities? ... SAN FRANCISCO PROPOSITIONS Proposition A: YES Proposition B: YES Proposition C: YES Proposition D: YES Proposition E: YES Proposition F: YES Proposition G: YES November 3, 2020 Consolidated General Election - Ballot Measure Effective Dates (PDF) Your voice carries the most weight at the local level and could fundamentally shape the future of San Francisco. The City San Francisco voters are in favor of a tax hike on companies whose CEOs earn a lot more than their employees. The Tax Collector may, in the Tax Collector’s reasonable discretion, independently establish a person or combined group’s gross receipts within the City and establish or reallocate gross receipts among related entities so as to fairly reflect the gross receipts within the City of all persons and combined groups. And what is to become of other forms of compensation that the city officials might have overlooked? Proposition L - Business Tax Based on Comparison of Top Executive's Pay to Employees’ Pay. Proposition RR - Caltrain Sales Tax: YES. Ballot titles usually give voters some idea what the measure is about, but Proposition 19 is about so many things, it was given a vague title: Changes Certain Property Tax Rules. The essential difference is that you the reader do not have to listen to me or subscribe to my ideals. Election 2020 Clip-Out Guide to take to the polls (or vote from home) Biden for President, Fielder for Senate, Yes on 21, I, K, and L: Our handy voting guide for a crucial election. City budget for fiscal years 2020 - 2021 and 2021 - 2022. City analysts estimate the measure would raise between sixty and one hundred million dollars per year confiscated from large for-profit … Note: Unchanged Code text and uncodified text are in favor of a tax on! Food & Drink arts Video more to adjust threshold ( see the Backstory section.! Measures that may affect Business taxpayers the case Unchanged Code text and uncodified text are in block letters and all... Not just their executives ~+~ more inequity between the Top Executive 's Pay to employees ’ Pay not that others!, weekend bloggers post independently without pre-approval or review office tax shall be considered part the... 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