Tech companies have new Tax

< San Francisco voters approved a new tax that will impact even unprofitable tech companies. The measure will raise the taxes on companies’ gross receipts by an average of .5 percent, with the money earmarked to help the homeless.

But it’s a loss for many tech companies that have opposed the measure — including Square, Lyft and Stripe — citing concerns echoed by new San Francisco Mayor London Breed over accountability of how the new funds will be spent.

The vote comes at a time when politicians and local nonprofits are increasingly calling on tech leaders to become more charitable and civically engaged members of their communities.