San Francisco may hike a corporate tax that includes the value of employee stock options — right as companies like Lyft, Pinterest and Uber are going public, the San Francisco Chronicle reported Wednesday.
Twitter, Zendesk and Square. But now that the initial public offering pipeline is filling up again with companies like Uber, Airbnb, Slack and Postmates, Mar believes these companies should pay more to help offset “negative impacts” of their growth, like housing affordability and traffic congestion, the Chronicle reports.
Mar plans to propose the tax officially in May. Six members of the Board of Supervisors need to support the plan to put it on the ballot, and the proposal needs a two-thirds vote to pass in November.
Initial city estimates demonstrate that the tax could collect between $100 million and $200 million in the first two years, the Chronicle reported.
Read the article from the San Francisco Chronicle here.