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Tax Reforms

November 11, 2004 | From Times Staff and Wire Reports
A City Council panel has asked that a reform package to cut business taxes by $95 million be drafted into ordinance form, but delayed moving most of the proposals to the full council so the committee can refine the measure next week. The council's Budget Committee agreed to schedule full council action for next week on a proposal to exempt bad debt from taxes, but asked for another week to finish a proposal to reduce taxes by 15% for firms that earn more than $100,000 annually.
October 22, 2004 | From Times Staff Reports
The city Office of Finance issued a revised report Thursday that indicates the city may be able to afford business tax reforms pending in City Council, including an exemption from the gross receipts tax for firms that earn $100,000 or less.
October 2, 2004
Re "Businesses Press Mayoral Candidates on Tax Issue," Sept. 26: It is reassuring to see Los Angeles city officeholders finally giving business tax reform the attention it deserves. Last June, the business community called for the City Council to enact a package of business tax reforms by Oct. 31 in order to prevent this from becoming a political hot potato. Known as the "3 Rs," the package includes reducing the number of tax rates from 64 to five; removing all businesses grossing less than $100,000 annually from the system; and providing relief for all businesses, 15% to 25% over five years.
September 30, 2004 | Patrick McGreevy, Times Staff Writer
The main proposals to reform Los Angeles' business tax would cost the city $95 million annually, about a fifth of the revenue from the gross receipts tax, according to a report released Wednesday by the city's Office of Finance. Citing the stiff price tag, the agency agreed with city leaders that some of the reforms should be delayed until 2006, and even then should be phased in over five or six years to soften the blow to the city budget.
April 9, 2004 | From a Times Staff Writer
City Councilwoman Wendy Greuel announced Thursday that she and Councilman Eric Garcetti will unveil a reform package for the city's business taxes next week. Greuel said the city's system of business taxes is outdated, overly complicated and onerous for businesses. The reforms are designed to simplify the system, she said. Officials hope the package can be voted on by the council before year's end.
January 6, 2004 | Eric Slater, Times Staff Writer
Retired Gen. Wesley K. Clark on Monday unveiled the most sweeping tax-reform plan of any of the Democratic presidential hopefuls, a plan he said would dramatically simplify tax returns and benefit 31 million families without increasing the budget deficit. Under Clark's proposal, a family of four making up to $50,000 a year would pay no federal income tax at all, and all families with children making up to $100,000 would see a reduction in their tax bill.
December 12, 2003 | Patrick McGreevy, Times Staff Writer
A year after defeating secession, Los Angeles Mayor James K. Hahn said in his annual State of the Valley speech Thursday that city efforts had contributed to a drop in crime and an increase in economic development in the San Fernando Valley, but he warned that budget problems mean tougher times ahead. Hahn ran into skepticism from leaders of the Valley Industry and Commerce Assn.
April 22, 2003 | Tomas Alex Tizon, Times Staff Writer
The most feared man in Washington state politics may be a giggling, pasty-faced watch salesman who's about to take himself on another ride. "Hoo-ha!" he likes to say. "This is Tim Eyman!" In four short years, the man known around these parts as the initiative king has risen from suburban obscurity to become the Moses of the tax-burdened masses. He has led four popular anti-tax initiatives, is leading a fifth, and has attracted a large and devout following in the state's fields and farmlands.
March 27, 2003 | Jean O. Pasco, Times Staff Writer
As California struggles with a historic budget shortfall, a growing number of lawmakers are hoping the crisis finally nudges the Legislature into untangling a state tax system that they argue shortchanges many large counties, including Los Angeles, Orange and San Diego.
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