S.F. Exempts Stock Options From 1.5% Payroll Tax in Bid to Keep High Tech Firms

The San Francisco Chronicle reports that Mayor Ed Lee signed legislation on Friday to eliminate the city's 1.5% payroll tax on stock options in an attempt to keep software companies like Yelp and Zynga from re-locating out of the city. San francisco was the only California city to levy a payroll tax on stock options. Prior TaxProf Blog coverage:

• Taxing Twitter (Feb. 14, 2011)
• San Francisco to Impose 1.5% Tax on Stock Options (Feb. 19, 2011)
• 1.5% Tax on Stock Options May Drive High Tech Firms Out of San Francisco (Mar. 25, 2011)
• Twitter Tax Cut (Apr. 20, 2011)