Pillsbury Winthrop Shaw Pittman

Lingering questions about the San Francisco gross receipts tax

By Michael J Cataldo and Paul T Casas

The first instalment payment for the new San Francisco gross receipts tax (GRT) is due on 30 April 2014. Many questions about the new tax remain as this deadline approaches. While the city has provided some relief from instalment underpayment penalties, taxpayers need answers to these questions to accurately determine their tax liability.

On 26 November 2013, the San Francisco Board of Supervisors approved amendments to the San Francisco Business and Tax Regulations Code, providing for penalty relief for delinquent GRT instalment payments, mandatory combined reporting for payroll expense tax purposes and the imposition of a new penalty for failure to file returns on a combined basis or failure to provide worldwide payroll or gross receipts information.

One of the amendments to the code provides welcome relief to taxpayers for delinquent GRT instalment payments, the first of which is due on 30 April 2014. GRT instalment payments are due every 30 April, 31 July and 31 October of the current tax year, and the last day of February of the immediately following tax year. A delinquency penalty of five per cent per month (not to exceed 20 per cent in the aggregate) is imposed on any instalment underpayment, and interest on such underpayments is imposed on any unpaid or underpaid balance at one per cent per month…

Click on the link below to read the rest of the Pillsbury briefing.

Sign in or Register to continue reading this article

Sign in

Register

It's quick, easy and free!

It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.

Register now

Why register to The Lawyer

 

Industry insight

In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.

 

Market intelligence

Identify the major players and business opportunities within a particular region through our series of free, special reports.

 

Email newsletters

Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.

More relevant to you

To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.

Briefings from Pillsbury Winthrop Shaw Pittman

View more briefings from Pillsbury Winthrop Shaw Pittman

Overview

Tower 42, Level 23
25 Old Broad Street
London
EC2N 1HQ
UK
http://www.pillsburylaw.com/