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IN BRIEF / LOS ANGELES

Tax Cut for Businesses Clears Last Committee

November 17, 2004|From Times Staff Reports

A package of changes that would cut business taxes by $95 million annually in Los Angeles will be taken up today by the City Council after the last of three panels endorsed the package Tuesday.

The measure would eliminate gross receipts taxes for all businesses making $100,000 a year or less and eventually cut taxes by 15% for all other firms.

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