Taxes

San Francisco's IPO tax won't be on the ballot until 2020

illustration of a torn up ballot
Illustration: Rebecca Zisser/Axios

San Francisco's IPO tax is dead! Long live San Francisco's IPO tax!

The backdrop: Voters were to be asked this November to approve a corporate tax increase on stock-based compensation from 0.38% to 1.5%. It would have been retroactive to May 7, just days before Uber went public.

Trump administration probes French tax plan on big tech

U.S. Trade Representative Robert Lighthizer. Photo: Mark Wilson/Getty Images

The Trump administration said on Wednesday it will investigate a French plan to impose a 3% tax on U.S. tech companies including Amazon, Apple, Facebook and Google, the New York Times reports.

Why it matters: This move escalates the administration's global trade fight, "stok[ing] tensions with the European Union," per the Times. It is "a step that could lead Washington to impose trade penalties," the Washington Post adds.