SAN FRANCISCO (KCBS) — The push is on again for tech companies like Twitter in San Francisco’s mid-Market area to apply for tax breaks.
The application process for the upcoming tax year has begun and on Thursday, a local citizens’ advisory committee will begin reviewing agreements with six tech companies.READ MORE: 'Highway Slingshot Shooter' Fires Ball Bearings at Windows Along San Jose's Guadalupe Freeway
The tax breaks, approved by the Board of Supervisors in 2011, consist of exempting approved employers from having to pay a 1.5 percent tax on new hires.READ MORE: 3 East Bay School Districts Go All-In on Student Vaccine Mandates
In order to get that break, firms with payrolls of more than $1 milion have to negotiate a “community benefit agreement” which obliges companies to offer free services to non profits and donate to community groups.MORE NEWS: State-of-the-Art Water Purification Plant Helps Silicon Valley Battle Drought
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