Prop. 39: Taxes for Multistate Businesses
Requires multistate businesses to pay income taxes based on percentage of their sales in California. Dedicates revenues for five years to clean/efficient energy projects.
Approximately $500 million in additional state General Fund revenues in 2012-13 and $1 billion each year thereafter from requiring a single sales factor formula for corporate taxes, with about half of the additional annual revenues from 2013-14 through 2017-18 supporting energy efficiency and alternative energy projects. Increased Proposition 98 minimum funding guarantee for K-14 schools of roughly $225 million annually from 2012-13 through 2017-18 and by roughly $500 million each year thereafter, as a result of additional state General Fund revenues.
No change from status quo.
YES on 39 CLOSES UNFAIR TAX LOOPHOLE letting OUT-OF-STATE CORPORATIONS avoid taxes by keeping jobs out of California. Closing the loophole protects local jobs and provides $1 BILLION to California. Funds used for job-creating energy efficiency projects at schools and for deficit reduction. YES on 39—CLOSE THE LOOPHOLE.
Proposition 39 is a massive $1 billion tax increase on California job creators that employ tens of thousands of middle class workers. It’s a recipe for waste and corruption, giving Sacramento politicians a blank check to spend billions without real accountability. California is billions in debt; 39 makes it worse.
Yes on 39—Californians to Close
the Out-of-State Corporate Tax
California Manufacturers &
1115 11th Street
Sacramento, CA 95814
|1||THOMAS F. STEYER||$29,580,000|
|2||CALIFORNIANS FOR CLEAN ENERGY AND JOBS (cash on hand as of 1/1/2011)||$1,143,227|
|3||SERVICE EMPLOYEES INTERNATIONAL UNION||$75,000|
|4||CALIFORNIANS FOR CLEAN ENERGY JOBS, SPONSORED BY CALIFORNIA LEAGUE OF CONSERVATION VOTERS (cash on hand as of 1/1/2011)||$72,784|
|5||NATIONAL EDUCATION ASSOCIATION||$60,025|