LA “flying pretty blind” on elimination of business tax


The timeline to eliminate the city of Los Angeles’ business tax has increased from five years to 15 years, and despite all of the reports on the subject, one Los Angeles city councilman today said they are “flying pretty blind” in creating the new policy.

Los Angeles businesses pay what is called a “gross receipts tax,” which is anywhere from $1.01 per $1,000 to $5.07 per $1,000 of sales, regardless of actual profit. The tax is frequently cited as an example of the city’s unfriendly business environment.

(Read Full Article)

Photo courtesy of channone, flickr