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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.
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...
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 workRead more...