I mean, the poor company was facing the prospect of paying as much as $300,000 a year in city taxes. And was threatening to move out of town over that money.
I was always dubious — the payroll tax is a tiny part of the cost of hiring an employee in San Francisco. But just in case you were worried about the future of this struggling little outfit that can’t afford to pay the local business tax, relax: A member of the Saudi royal family just gave Twitter a $300 million cash infusion. That’s like, 1,000 times the amount of money that Twitter might have had to pay the city if it didn’t get a special tax break.
Tweet.