New Study: San Francisco Business Taxes Far Surpass Other Bay Area Cities
Most businesses have choices in where they decide to locate, invest, create jobs and grow, and many factors play into those decisions. The amount of taxes cities levy on businesses is one of those factors. And it’s one that is taking on increasing significance as competition heats up among cities to attract and retain businesses that are looking to reduce costs in an uncertain economy and have been freed by a rise in remote work to locate their operations almost anywhere.
A new study released this week (Feb. 16) by the Bay Area Council Economic Institute found that San Francisco’s business tax burden for large corporations is more than double the next highest city, Oakland, and many times higher than other neighboring cities including San Jose, Sunnyvale, and Walnut Creek. The study examined the business tax burdens among 15 Bay Area cities and highlights the sizeable disadvantage that high-tax cities like San Francisco have in competing to attract and retain businesses, particularly larger companies.
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