Prop. 39:Taxes for Multistate BusinessesRequires multistate businesses to calculate CA income tax based on the percentage of sales in CA.
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.
|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|