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Keyword: taxsurcharge

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  • California Democrats want businesses to give half their tax-cut savings to state

    01/21/2018 7:46:18 PM PST · by Liberty7732 · 46 replies
    SF Gate ^ | 01/21/18
    California lawmakers are targeting the expected windfall that companies in the state would see under the federal tax overhaul with a bill that would require businesses to turn over half to the state. A proposed Assembly Constitutional Amendment by Assemblymen Kevin McCarty, D-Sacramento, and Phil Ting, D-San Francisco, would create a tax surcharge on California companies making more than $1 million so that half of their federal tax cut would instead go to programs that benefit low-income and middle-class families.