San Francisco Calls For a General Voting To Decide On the Twitter Tax Break Deal

General census of the city lawmakers has been planned as all the officials vote on Tuesday whether or not to allow the tax break for keeping Twitter in San Francisco. Twitter has strategically asked for this tax break in as an incentive in exchanged for them to not to flee from such ruined neighborhood. The matter has drop down to just one questions what whether or not will the Board of Supervisors exempt such profitable microblogging company from paying the city's payroll tax on new hires.

Local residents protesting
against Twitters' Deal

It has also to be put under consideration that if this tax break was allowed to Twitter, it will then also apply to other companies as well. So far the city officials are supporting such plans, as they refer to this deal as an opportunity and to Twitter as the "big fish" which will perhaps incite the economic revival within the city.

Flooded with more and more investments due its immense success and grow, Twitter will not wait long to outgrow its current San Francisco headquarters. The company has already anticipated a new building to form its new headquarters and pick up new hires making their team grow steeply from a few hundred to the destination of few thousand employees.

Mayor Ed Lee, has been supporting this deal so far  and has also made an announcement last month that Twitter has confirmed to the signing a long six-year lease for gearing up the shops which are yet empty office building. But obviously on the condition that the tax breaks gets approved. On the other hand, this deal has also been getting a lot of criticism and is seen suspiciously favorably by many, including the city's largest employees union. They have been calling this deal as a completely ill-conceived corporate giveaway to giant companies like Twitter.

Noticeably San Francisco is one and the only city of California, which levies its taxes on businesses on the calculation of payrolls, higher than $250,000 a flat 1.5 percent rate on every compensation employees receive. Whereas, otherwise generally such large giant companies area always laible of tax in comparison of how much money they actually bring in to the company.

Hence this vivid tax system of San Francisco has given birth to this high profile case of Twitter tax deal. Not surprising this deal under consideration as also led other companies, including their rivals, to raise a concern that why cannot they call for similar incentives.