Press Room: Article
The Great California Tax Quake
The Commission on the 21st Century Economy Identifies Sweeping Tax Reforms That Could Shake Things Up for all California Taxpayers
On September 29, 2009, the Commission on the 21st Century Economy published its report to Governor Schwarzenegger outlining recommendations for a major shift in California’s tax structure. The Governor created the Commission on October 30, 2008 when he signed Executive Order S-12-08 (later revised by S-15-09). This Commission’s directive was to study and re-examine California’s out of date revenue and taxation laws that contribute to California’s feast-or-famine state budget cycles.
The Commission was established with six principles in mind…