Tagged: prop30

California taxes are going up in the new year – with higher sales and income tax rates … and a new requirement for out-of-state businesses to calculate their taxes the same way in-state businesses do.  

In November, voters approved two ballot measures that deal with taxes.  Proposition 30 raises the sales tax a quarter of a cent to 7.5 percent, starting in the new year 

When the results for Proposition 30 come in on Election Night, California voters won’t just have returned a verdict on whether they support raising taxes to reduce the state’s budget deficit. They will also have handed Governor Jerry Brown a victory or defeat on his signature policy issue. As Ben Adler reports from Sacramento, the outcome, and Brown’s reaction to it, could shape the rest of his time in the governor’s office.

The final Field Poll before Election Day on California’s two rival tax measures shows Governor Jerry Brown’s Proposition 30 leading by 10 points and education advocate Molly Munger’s Proposition 38 trailing by 15 points.

Prop 30 has lost support over the last several weeks and is now just shy of the 50 percent support it needs to pass. But Field Poll Director Mark DiCamillo says it still has a “decent shot.”

California Governor Jerry Brown’s November tax measure is drawing some of its strongest opposition from small business groups. Ben Adler reports from Sacramento on how some small businesses would be affected by Proposition 30.

James Wright owns part of a small business in Los Angeles County that manufactures manhole covers – with about 10 million dollars in sales. Wright doesn’t take anywhere near that much home to his family. But he does have to pay personal income taxes on company profits … using money from the business itself.