California takes about 4.7% of what a business produces in taxes — which happens to be the national average. The government take is higher in Alaska (13.8%), New York (5.5%) and Florida (5.3%). Even Texas, known for rolling out the red carpet for business, pocketed more than California — 4.9%… But [California] corporations now shoulder less of the state’s tax burden than they did a generation ago, according to a Times analysis of state Franchise Tax Board data. The analysis found that corporations reporting net income paid 5.4% of their state income in taxes in 2008, the most recent year available, down from 9.7% in 1981.

Read full article [here].
by Alana Semuels, The Los Angeles Times.

Posted: October 24th, 2010, by: admin. Categories: . Awaiting Comments.