What to know about San Francisco’s Proposition M [Video]

San Franciscans will vote on several propositions in November. Here’s what to know about Prop M.

What is Proposition M? 

This measure makes changes to San Francisco business taxes. It requires 50%+1 affirmative votes to pass. 

What a yes vote means

A yes vote means you want to change the following taxes San Francisco collects from businesses: 

• Gross receipts tax
• Homelessness gross receipts tax
• Overpaid executive gross receipts tax
• Administrative office tax  
• Business registration fees

What a no vote means 

A No vote means you don’t want to change the City’s business tax. 

Breaking down Prop M

According to the Ballot Simplification Committee, an impartial group of volunteers, most small businesses would be exempt from the gross receipts tax up to $5 million. 

Prop M would reduce the number of business types from 14 to seven and San Francisco gross receipts would be calculated more based on sales and less on payroll expenses, depending on the type of business. 

The proposal would …