California Bid to End Business Tax Break Falls Short
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A California bill that would have stripped out-of-state corporations of an option for lowering their state income taxes was defeated in the closing hours of the Legislature’s term.
The measure would have required all corporations to base the tax solely on in-state sales, rather than a formula that let some pay less by factoring in their property and workforce in California. It failed in the Senate by a vote of 22-15.