Read the full report in PDF
California’s business tax burden is talked about a lot but most of the debate is based on rhetoric as opposed to empirical research. The business community and lawmakers from both parties, particularly the California Republican Party, have made repeated claims that California businesses are heavily overtaxed.
California’s property tax burden has gradually shifted to homeowners because commercial and industrial property doesn’t change hands as often as homes and the sales can be easily disguised.
by Michael Hiltzik in the LA Times.
Originally posted by the LA Times
Summary: this proposed initiative repeals only the three new corporate loopholes which were the secret part of the failed budget deals in September 2008 and February 2009.
None of them have yet taken effect, so the initiative will prevent over $2 billion yearly in future revenue losses. It has been filed with the Secretary of State, [...]
Read more...This initiative, filed July 7, 2009, would repeal the new corporate loopholes passed in secret by the Legislature as part of the failed budget deals which have been rejected by the voters. Read the initiative in pdf;
Read more...San Francisco Chronicle op-ed article which highlights how the “Amazon” loophole hurts jobs and tax revenue in California
Read the original article in the SF Chron
http://www.latimes.com/news/opinion/commentary/la-oe-goldberg30-2009apr30,0,249660.story
As voters try to decide how to repair the state’s budget, big companies are walking away with billions in tax giveaways.
By Lenny Goldberg
Op-ed piece which explains the huge new corporate loopholes which stem from the last two budget agreements and which will cost the state $2.5 billion yearly . Read about how they happened and how they work
Read more...California is on the verge of continuing to gut its corporation tax, without debate and discussion. Last year’s budget agreement contained two provisions to shelter income and destabilize the corporation tax. This year another heavily-lobbied provision—single sales factor apportionment– will be attached to the budget which will provide a cumulative billions in revenue loss, at [...]
Read more... Contact: Lenny Goldberg
Sept 15, 2008
“Death of the Corporation Tax” is part of the Budget Deal
In exchange for a small amount of temporary short-term revenues, the Legislature is poised to open two vast new loopholes in the corporation tax, loopholes which will continue indefinitely. The impact will be to greatly diminish the corporation tax at [...]
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