• Real Estate Alert: San Francisco Gross Receipts Tax

    In an attempt to promote hiring in San Francisco, in November 2012 San Francisco voters elected to implement a new gross receipts tax (“GRT”).  Beginning January 1, 2014, San Francisco will phase in the GRT on all business activities attributable to San Francisco, and will phase out, over a five-year period, San Francisco’s current 1.5% tax on payroll expense.  This means that for the next four years, businesses with gross receipts attributable to San Francisco must calculate their liability under both the gross receipts tax and the payroll tax and report and pay a percentage of each tax. “Gross Receipts” is broadly defined to include total amounts received or accrued from any source, such as sales, services, dealings in property, interest, rent, fees, and commissions.  Thus, the GRT will be applicable to receipts from rentals of San Francisco real estate and payments for services that are part of a lease, as well as sales of San Francisco real estate, but only if transfer tax is not paid on the sale.

    Click here to read the full alert.

  • Tax Alert: San Francisco Gross Receipts Tax

    In November 2012 San Francisco voters elected to implement a new gross receipts tax (“GRT”).  This tax is intended to encourage hiring in San Francisco by shifting from a payroll-based tax to a gross receipts-based tax.  The San Francisco Controller estimates that the GRT will increase revenue by $28.5 million per year and broaden the number of businesses subject to the tax from 7,500 to 33,000 businesses.  Industries with relatively low payroll and high gross receipts allocable to San Francisco will be affected most by the GRT.

    Click here to read the full alert.

  • Jon Bass Highlighted in “Niners Win First Round”

    Niners attorney Jonathan Bass is highlighted in the San Jose Mercury News article “Niners Win First Round – Team gets Restraining Order on $30 Million in Disputed Money” by  Mike Rosenberg and Steve Harmon.

    “The San Francisco 49ers scored their first victory in the team’s fight with South Bay leaders to wrestle back $30 million in stadium funds, as a judge barred local school districts from spending the money and signaled he may soon give it to the team. The judge presiding over the case set a July 27, 2013 hearing at which he may rule on the 49ers’ claim that the team should get the funds because voters had earmarked the money specifically for the stadium.”

    Jon Bass and Coblentz’s real estate, business, and litigation teams continue to represent the Niners in their stadium project and in other needs of the team.

    Categories: News
  • Danna Kozerski Elected into The American College of Real Estate Lawyers

    Danna Kozerski has been elected as a Fellow of The American College of Real Estate Lawyers (ACREL), the premier organization of U.S. real estate lawyers. Admission is by invitation only after a rigorous screening process. ACREL’s distinguished, nationally-known lawyers have been elected to fellowship for their outstanding legal ability, experience and high standards of professional and ethical conduct in the practice of real estate law. Danna is one of only 18 lawyers chosen nationally as a new member of ACREL in 2013, and one of only four in California.

    Categories: News
  • Coblentz Represents Auto Dealers in Acquisition of Carlsen Volvo

    Coblentz represented Tom Price and Adam Simms, well known auto dealers, in their acquisition of Carlsen Volvo in Palo Alto, CA.  We advised the buying entity, Price – Simms LLC, on the asset purchase including the related real estate work which  involved third parties.  The transaction was closed on an accelerated basis.  The financial terms are not being publicly disclosed.

    Categories: News