Los Angeles City Council cuts $92 million in business taxes annually
The Los Angeles City Council voted to eliminate the gross receipts tax for businesses that make $100,000 or less in a move to keep business in the city.
The Los Angeles City Council voted to eliminate the gross receipts tax for businesses that make $100,000 or less in a move to keep business in the city. According to the Los Angeles Times, the tax reform includes gradual reduction of tax by 15 percent for all businesses and exempting film industry workers earning up to $300,000. Los Angeles Times
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