Legislature Must Reject Tax Commission Report If It Includes BNRT — The “Hidden” Tax
The California Tax Commission is coming close to finalizing a package of so-called reforms to the way Californians pay for their government, and to my amazement, a center-piece of the current likely proposal is what is called a Business Net Receipts Tax (BNRT), which is similar to a value added tax. As proposed, it would apply to all businesses in California, expanding the scope of what is currently taxed in the state from just goods now to services.
This particular element of the Commission’s proposal is clearly something that should be excised. It is criticized from the left this morning in a thoughtful piece from Jean Ross of the big-government supporting California Budget Project over at CalBuzz, and right here on the FlashReport conservative Michelle Steel, one of the two Republicans on the State Board of Equalization, takes the BNRT proposal to task in a piece broadly concerned with the pending report of the commission. Joel Fox also pointed out the concerns of the BNRT to… Read More