L.A. Businesses Want Local Tax Reform
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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. At first, these reforms will likely reduce city tax revenues, based on studies conducted by private and city researchers. However, they must be enacted to make L.A. more attractive for businesses, which will result in higher and more reliable revenue streams for years to come.
Rusty Hammer
President & CEO, L.A. Area
Chamber of Commerce
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