05
April
2011
|
08:46 PM
America/Los_Angeles

Twitter Gets SF Tax Break But Is it Enough?

San Francisco gave Twitter what it wanted, lower local taxes, but is it enough for the high flying socially responsible tech company?

Verne Kopytoff reports:

San Francisco's Board of Supervisors on Tuesday voted 8 to 3 to preliminarily approve a tax break that could allow Twitter to avoid tens of millions of dollars in taxes. A second vote expected next week would make the legislation official.

Twitter has yet to say if this will be enough to keep it in San Francisco. Sean Garrett, (@SG) Twitter's spokesperson, has not responded to the news.

Twitter has upset local communities in San Francisco that see the company as a richly funded firm that is taking advantage of its superstar status to gain tax concessions.

Foremski's Take: The company's founders talk about social responsibility and how important it is to their mission but want to remove resources from the community where they live and work.

Hypocrisy is a word that they should Google.

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Please see:

Supervisors OK tax break for Twitter - SFGate

Twitter vote reflects changing San Francisco - MarketWatch

SF gives preliminary OK to payroll tax break for Twitter | Digital Media - CNET News