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NEWS
December 28, 1992 | Associated Press
You can't escape death or taxes, the adage goes. But Alaska residents come closest to disproving the part about taxes. Alaskans don't pay state levies on income, sales or inheritance, so they enjoy the lowest taxes of any state, Money magazine says in its annual state-tax ranking. New Yorkers pay the most. The ranking compares taxes in the 50 states and the District of Columbia on a typical two-income family of four that subscribes to Money.
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BUSINESS
March 25, 2014 | By Marc Lifsher
SACRAMENTO - Proposed legislation aimed at providing more tax credits to attract so-called runaway movie and television productions back to the industry's birthplace in California won initial approval from a legislative committee Tuesday. The proposal would renew and increase a state tax credit - amounting to as much as $400 million a year - to better compete with generous tax subsidies available in more than 40 states, including New York, Louisiana, New York and Michigan, as well as studios in Canada and Britain.
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NEWS
January 20, 1992 | JAMES RISEN, TIMES STAFF WRITER
The Republican White House and Democratic Congress are all but certain to agree this year on some kind of tax cut designed to fight the recession by putting more spending money in the pockets of middle-class Americans. But there's a catch.
BUSINESS
January 13, 2014 | By Marc Lifsher
SACRAMENTO -- Bernice Tingle, 67, lost her life's savings of over $1 million to a convicted Bay Area Ponzi scheme operator, who's now serving 46 months in federal prison. The retired phone company manager says she now barely gets by on the income she has left. But state tax collectors came after her for $84,000 in taxes on the paper profits that she never got. The debt now is $135,000 with interest and penalty charges. Tingle got some relief from the IRS, thanks to a ruling helping victims of the more infamous Ponzi schemer Bernard L. Madoff.
NEWS
July 2, 1991 | HELAINE OLEN, SPECIAL TO THE TIMES
The states, desperate to ease their mounting fiscal crises, are once again eyeing a seemingly boundless source of additional revenues--imposing taxes not just on the sale of goods but also of services, which now are exempt from most state sales taxes. And, despite powerful opposition, the move toward taxing services may become an unavoidable trend for a more basic reason: It permits state tax systems to adapt to the fundamental shift in the U.S. economy from manufacturing to services.
NEWS
June 24, 1987 | DAVID G. SAVAGE, Times Staff Writer
The Supreme Court, supporting the move toward a national minimum drinking age, ruled Tuesday that Congress may reduce federal highway funds to states that refuse to raise their drinking age to 21. The court, stepping into a contentious clash between states' rights and congressional authority, concluded on a 7-2 vote that Congress has broad power to set standards for the spending of federal funds.
NEWS
April 17, 1990 | SAM FULWOOD III, TIMES STAFF WRITER
State and local governments are bearing an increasing share of the burden of rebuilding the nation's highways and bridges, and states have raised their gas taxes 122 times since 1980, according to a survey released today. Although the survey was simply intended to provide statistical information, it raises questions about the feasibility of the Bush Administration's recent call for states and local governments to play an even greater role in highway construction and maintenance.
BUSINESS
April 4, 1989 | From Times Wire Services
The Supreme Court, in a significant ruling for state treasuries, Monday upheld a New Jersey tax that 13 major oil companies said unfairly is costing them tens of millions of dollars. The court, by an 8-0 vote, said New Jersey officials lawfully refused to allow state tax deductions for what the oil companies paid in federal windfall profit taxes.
NEWS
August 16, 1991 | BOB SECTER, TIMES STAFF WRITER
Still confused about what is fiscally if not gastronomically correct under California's snack tax? Then you can bet your bear claws that munchers in suburban Washington are having fits sorting out their new debit on doughnuts. It works something like this: Trying to compensate for a $10-million cut in state aid, Arlington County, Va., recently slapped a tax on the sale of non-home-cooked meals, including those in-flight concoctions prepared for passengers leaving National Airport.
CALIFORNIA | LOCAL
January 8, 1993
California is 35th among the states in tax burden--in the bottom third. Now, with an even greater state budget deficit looming, the governor indicates there will still be no new taxes (Dec. 27). Instead, services will be cut even further. The issue of business climate in California is not merely a tax issue. It also includes how well we maintain services (fire, police, health), infrastructure (roads, water systems, parks, sewers), and education (schools, community colleges, universities)
ENTERTAINMENT
December 26, 2013 | By Richard Verrier
ATLANTA - Ric Reitz makes movies. He helped bankroll the Matt Damon thriller "Contagion," Clint Eastwood's "Trouble With the Curve" and the Robert Downey comedy "Due Date. " Reitz, an energetic 58-year-old, doesn't hang out at the Polo Lounge, red-carpet premieres or swank offices in Century City. Instead, he works out of a former cotton mill near Martin Luther King Jr.'s boyhood home, hustling for business at Chamber of Commerce dinners and Rotary Club lunches. Recently, he was looking forward to attending a meeting of prosperous chicken farmers.
CALIFORNIA | LOCAL
December 22, 2013 | By Teresa Watanabe
After several lean years, thousands of California teachers are winning pay hikes, bonuses and other benefits in contract negotiations - the fruits of voter-approved school funding increases. The $6.1 billion in new funds headed for schools this year courtesy of Proposition 30, a temporary income and sales tax increase, also will allow officials to rescind layoffs and restore days to the school calendar in districts from Napa to Long Beach. "On the whole, teachers are happier," said Eric Heins, vice president of the California Teachers Assn.
BUSINESS
December 19, 2013 | By Marc Lifsher
SACRAMENTO -- A state panel has granted a $34.7-million tax break to Tesla Motors Inc., which makes high-tech electric vehicles at facilities in Fremont and Palo Alto. The California Alternative Energy and Advanced Transportation Financing Authority this week approved the credit on sales and use taxes that Tesla would have paid for equipment to expand its production of electric cars and power trains. Photos: The world's most beautiful cars  "I'm pleased we could take this action to encourage Tesla to expand its electric vehicle production in California, which will create green jobs and improve our air quality," said state Treasurer Bill Lockyer, who chairs the agency's board.
BUSINESS
December 10, 2013 | By Marc Lifsher
SACRAMENTO -- California's tax revenue came in about 6% below forecasts in November, but state Controller John Chiang dismissed the drop as a fluke of the calendar. Last month's total of $6 billion was $375.6 million under estimates, Chiang said. But, revenue for the first five months of the fiscal year was $31.4 billion, ahead of budget predictions by $228.1 million. QUIZ: How much do you know about California's economy? Meanwhile, state spending since the July 1 start of the fiscal year was down $126.3 million from budget assumptions.
BUSINESS
November 6, 2013 | By W.J. Hennigan
A wide-ranging multibillion-dollar package of incentives comes before Washington state lawmakers Thursday as the state scrambles to ensure that aerospace giant Boeing Co. will build its next major jetliner in the Seattle area. The company's Long Beach plant, which is now set for closure in 2015, had been rumored as a long-shot site for the work. But Tuesday, Washington Gov. Jay Inslee called the Legislature into a special session that begins Thursday to pass a package of bills that includes more than $8 billion in tax savings for Boeing to build the next-generation version of the 777 wide-body jet in Puget Sound.
ENTERTAINMENT
October 9, 2013 | By Richard Verrier
A group of entertainment industry executives and labor leaders called on state lawmakers to beef up California's film incentives -- or risk losing a homegrown industry to rivals. At a state committee hearing held at SAG-AFTRA headquarters in Los Angeles, industry officials praised California's film and TV tax incentives, which were adopted in 2009 to stop the migration of film and TV work.  They cited the Oscar-winning film "Argo" and the TV series "Teen Wolf" as examples of projects that have been filmed in California specifically because of the tax credits they received.
BUSINESS
December 19, 2013 | By Marc Lifsher
SACRAMENTO -- A state panel has granted a $34.7-million tax break to Tesla Motors Inc., which makes high-tech electric vehicles at facilities in Fremont and Palo Alto. The California Alternative Energy and Advanced Transportation Financing Authority this week approved the credit on sales and use taxes that Tesla would have paid for equipment to expand its production of electric cars and power trains. Photos: The world's most beautiful cars  "I'm pleased we could take this action to encourage Tesla to expand its electric vehicle production in California, which will create green jobs and improve our air quality," said state Treasurer Bill Lockyer, who chairs the agency's board.
OPINION
November 23, 2002
When Elizabeth G. Hill, the Legislature's nonpartisan fiscal advisor, puts headlines like "Huge Problem Looming" in her 2003 fiscal outlook, California's elected officials had better perk up their ears. Hill, a master of understatement, adds that "this year [2003] will be much harder than the last." The 2002 struggle to paste over a $24-billion deficit was the longest and one of the meanest in state history.
ENTERTAINMENT
June 5, 2013 | By Richard Verrier
The hit series "Teen Wolf" is a top-ranked cable show among young viewers. It also ranks at the top of the list when it comes to receiving California film tax breaks. On Tuesday, the MTV series was approved for an estimated $11-million tax credit for its fourth season -- by far the highest among 31 projects that won a piece of the $100 million the state awards annually to film and TV projects, state records reviewed by the Los Angeles Times show. TV shows are eligible to receive a tax credit equivalent to 20% of qualified production costs.
OPINION
May 29, 2013 | By The Times editorial board
Temptation, thy name is Mac Taylor. Days after Gov. Jerry Brown urged lawmakers to spend conservatively in light of the fragile state economy, Taylor, the head of the Legislative Analyst's Office, estimated that the state's tax revenues would be $3.2 billion higher than Brown predicted. Now lawmakers are debating how much of that money to spend in the fiscal year that begins July 1. We share their desire to undo some of the penny-wise, pound-foolish cuts made in recent years.
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