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Tax law changing? Commission exploring ways to stabilize state economy.

Publication: California CPA
Publication Date: 01-SEP-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
The California Legislature returned from its summer recess Aug. 17 to a flurry of activity prior to its scheduled interim recess Sept. 11.

This year's interim recess promises to be a very short one since Gov. Schwarzenegger has indicated he will call a special session of the Legislature in mid-September to consider a massive overhaul of California's tax law.

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The 14-member Commission on the 21st Century Economy, created by the governor with seven of his appointees and six appointees from the Legislature, will be considering long-term solutions to stabilize California's economy. The Commission is reportedly considering recommending an overhaul of California's tax law, including expansion of some kind of business tax or net receipts tax....

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