Tuesday, October 9, 2012

Report: California's business tax climate ranks 48th in U.S.

And if you think it's bad now...
California's tax climate for businesses is the third worst among the states, according to a report from the Tax Foundation, a nonprofit advocate for low taxes.

However, if state voters approve either Proposition 30 or Proposition 38 on the November ballot, California's ranking will drop even lower, said Tax Foundation Vice President Joseph Henchman, who runs the group's Center for State Tax Policy.

"We have run the numbers, and we will write a (separate) piece on that soon," he said. "We believe (Proposition) 38 does more damage (to California's business tax climate) than 30 does."

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