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Los Angeles Business Tax Cuts

  • Feb 25, 2015 | Gail Cole

 Los Angeles is about to become more business friendly.

The Mayor of Los Angeles has signed into law his plan to cut business taxes. Over the next several years, business taxes will drop by 16% overall. The minimum wage will increase to $13.25 by the end of 2017.

Mayor Eric Garcetti calls the plan “a strategic approach to creating jobs and opportunity for Angelenos.” He believes the plan will encourage businesses to stay or relocate to Los Angeles. His enthusiasm is shared by the Los Angeles Business Council, which “in an unprecedented vote” of the entire membership has endorsed the plan.

The newly approved Ordinance Number 183419, which affects Los Angeles Municipal Code Sections 31.22, 21.41, 21.43, 21.44, and 21.45, will take effect on March 20, 2015. Details will be forthcoming.

photo credit: Los Angeles Skyline from East LA. via photopin (license)

Sales tax rates, rules, and regulations change frequently. Although we hope you'll find this information helpful, this blog is for informational purposes only and does not provide legal or tax advice.
Gail Cole
Avalara Author
Gail Cole
Gail Cole
Avalara Author Gail Cole
Gail began researching and writing about sales tax in 2012 and has been fascinated with it ever since. She has a penchant for uncovering unusual tax facts, and endeavors to make complex sales tax laws more digestible for both experts and laypeople.