Alert: Pending Stock Option Tax Legislation in SF May 7, 2011Posted by Phil Jeudy in N'importekoi, startup.
Tags: California, tax
My friend Myles Weissleder sent a very important email today regarding the Pending Stock Option Tax Legislation in SF…
“Right now, San Francisco is the only major city in the United States
that taxes stock options, and there are two competing bills at City
Hall to address the issue.
One (sponsored by Supervisor Mark Farrell) would permanently stop this
tax – private companies will not pay anything going forward, and
existing public companies would be capped at their current levels.
Another (sponsored by Supervisor Ross Mirkarimi) would only create a
6-year trial period, where public companies will still be subject to
the tax, and private companies will still have to pay up to $750,000 a
year once they go public.
We need to support Supervisor Mark Farrell’s legislation — this is
VERY important to the technology community in San Francisco.
If you’re a registered voter that lives in San Francisco, you can also
visit the Save SF Startups page on Votizen:
https://www.votizen.com/issues/sfstartups/ and submit your letter of
support. If you’re not a voter or live outside of the city, you can
tweet your support with the #sfstartups hashtag.
We also need phone calls to the supervisors – go here
http://www.sfbos.org/index.aspx?page=1616 for phone numbers, call the
supervisors, and ask them to support Supervisor Farrell’s stock option
Finally, forward this email to everyone you know (especially other
entrepreneurs who should care about this issue) and ask them to send
the same email.
THANKS FOR YOUR HELP IN PUTTING AN END TO STOCK OPTION TAXATION !”
Thank you Myles for highlighting this!