California, Taxes | featured news

A Berkeley city councilman has proposed a tiny levy on senders of large batches of unwanted time-wasters. The most courageous politician in California — probably the nation — is a Berkeley city councilman, Gordon Wozniak.

According to the Greater Austin Chamber of Commerce, since the passage of Prop 30 in the November election, California-based company relocation inquiries have doubled, possibly tripled, in Central Texas. West Coast entrepreneurs feeling the personal financial stress of an out-of-control state budget and tax policy have heard Texas’ message, and they’re responding.

California’s top earners are now facing a combined 51.9 percent federal and state income tax — the highest rate in the nation — a cause for grumbling and, maybe, an incentive to move.

The California tax man cometh, and he's headed for the Internet. State tax collectors are preparing to crack down on renegade Internet merchants who don't collect sales taxes, and nearly 100 new state auditors, lawyers and other specialists are being hired to help over the next three years.

Reassessment of their $12-million home, one of many reductions in San Diego County, has saved $109,000 over four years... Mitt and Ann Romney were easily able to afford a $12-million La Jolla home. But that didn't insulate them from the winds buffeting the real estate market in the months following their purchase in 2008. After paying cash for the Mediterranean-style house with 61 feet of beach frontage, they asked San Diego County for dramatic property tax relief.

Medical marijuana's days may be numbered. With a true double whammy, the IRS and federal prosecutors are both using weed killer. California's federal prosecutors announced an aggressive statewide effort to shut down dozens of pot dispensaries. If that's not enough, then there's the IRS.

Amazon.com Inc has proposed a hiring spree of 7,000 jobs in California if state leaders put a recently enacted online sales tax on hold for two years.

Amazon.com Inc., the world’s largest Internet retailer, said it will sever ties with its affiliates in California if the state enacts a new law that requires the company to collect taxes on online purchases. California Governor Jerry Brown signed legislation yesterday mandating sales-tax collections by Web retailers, including Amazon, on purchases by state residents. The state’s pending budget plan counts on $200 million from the law. In an e-mail before the bill was signed, Amazon said the legislation was “unconstitutional and counterproductive.”

Democratic lawmakers passed a rare on-time state budget Wednesday over Republican objections, but the plan — balanced with a blend of taxes, cuts and clever accounting — faces an uncertain fate at the hands of Gov. Jerry Brown.

Tax income has been outpacing forecasts — good news as Sacramento struggles with a $15-billion budget deficit. GOP leaders are already using it as fodder against Gov. Brown's proposed tax increases.