San Francisco Business Tax Deadline is Just 10 Days Away

If you operate a business in San Francisco the deadline for filing and paying the second installment of your 2014 estimated Payroll and Gross Receipts tax is due on July 31, 2014.  You can file online with the City.

San Francisco Tax Collector's Logo

There are two components to the tax and estimated payment – a payroll tax expense and a gross receipts tax.

You are only required to make estimated tax payments if your taxable payroll is greater than $260,000 or your gross receipts are greater than $1,000,000.

You can use the safe-harbor payment by paying in 26% of your 2013 San Francisco payroll tax liability (there was no Gross Receipts Tax in 2013 so that portion is $0). However, keep in mind that if you use the safe-harbor calculations you may have an over or underpayment when the return is due in February 2015.

The final estimate is due on October 31st. The return and final payment for 2014 is due on the last day of February, 2015.

The process for Gross Receipts Tax is fairly complex and the San Francisco Tax Assessor’s office is overwhelmed with inquiries. If you need assistance Sterck Kulik O’Neill can help you work your way through the details.

About Charles

Charles is Sterck Kulik O'Neill's Managing Director. His passion is helping businesses and their owners achieve financial success. Charles conducts results-driven strategic planning sessions, business re-engineering workshops, and customized operational review seminars. He has extensive experience in accounting and auditing, business development, and tax preparation. He has served clients in the retail, wholesale, restaurant, real estate, construction, winery, non-profit, retirement plan and service industries. He joined the firm in 1985.
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