The California Apartment Association is opposing a measure that’s seeking to create one of the largest tax increases in state history.
Assembly Constitutional Amendment 22 proposes to ask voters to approve a 10 percent “surcharge” on California employers. Companies with annual net income of more than $1 million that are subject to corporate income and franchise taxes in California would be required to pay the new tax.
Assemblyman Kevin McCarty
The tax proposal comes from Assemblymen Kevin McCarty, D-Sacramento, and Phil Ting, D-San Francisco, and has met fierce opposition from a large coalition of business groups, including CAA.
CAA and the coalition point out that the 10 percent “surcharge” would …
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