Difference between revisions of "Props 2010/24/"
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| − | [[Props 2010/]] | + | [[Props 2010/]]PROPOSITION 24 -- CORPORATE TAXES |
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''Repeals recent legislation which lowered corporate taxes by allowing businesses to shift operating losses to prior tax years; expanding the time in which losses can be shifted; allowing businesses to share tax credits with affiliated corporations; and allowing multi-state companies to use a sales-based income calculation rather than one based on property, payroll, and sales. Major funding support provided by California Teachers Association ($2.2 million). Major opposition funding provided by Fox Group, Time Warner, CBS, General Electric, Cisco Systems, Amgen, Walt Disney Company, and Genentech, Inc.'' | ''Repeals recent legislation which lowered corporate taxes by allowing businesses to shift operating losses to prior tax years; expanding the time in which losses can be shifted; allowing businesses to share tax credits with affiliated corporations; and allowing multi-state companies to use a sales-based income calculation rather than one based on property, payroll, and sales. Major funding support provided by California Teachers Association ($2.2 million). Major opposition funding provided by Fox Group, Time Warner, CBS, General Electric, Cisco Systems, Amgen, Walt Disney Company, and Genentech, Inc.'' | ||
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Revision as of 22:02, 14 July 2010
Props 2010/PROPOSITION 24 -- CORPORATE TAXES
Repeals recent legislation which lowered corporate taxes by allowing businesses to shift operating losses to prior tax years; expanding the time in which losses can be shifted; allowing businesses to share tax credits with affiliated corporations; and allowing multi-state companies to use a sales-based income calculation rather than one based on property, payroll, and sales. Major funding support provided by California Teachers Association ($2.2 million). Major opposition funding provided by Fox Group, Time Warner, CBS, General Electric, Cisco Systems, Amgen, Walt Disney Company, and Genentech, Inc.
