L. A. De-Taxes DotCom Firms
Just when the heat was turned on high tax wise for many Los Angeles dot com and Internet based businesses, Los Angeles mayor Anthony Villaraigosa signed away the premium business tax rates slicing and dicing the clicks bizzes in Southern California. The ordinance keeps dotcoms like Shopzilla in business here. Without such regulation as this, all business will have trended to exit the California economy substantially.
The business environment in Los Angeles has gone from soft to Swiss Cheese, and many Santa Monica internet companies have gone belly up or are still struggling. In this softest-in-memory retail and business climate, Los Angeles last year taxed Internet businesses at a premium rate, driving many to threaten to relocate.
Looks like L.A. could be the new regrowth market.
