LOS ANGELES, CA – The Los Angeles Area Chamber of Commerce applauds Mayor Antonio Villaraigosa’s suggested amendment to the City’s tax code, which would protect businesses from owing back taxes based on a reclassification of their tax rate. The L.A. Area Chamber also supports actions to protect businesses from owing back taxes in cases of reversed reclassification decisions and to prohibit reclassification for a fixed period of time.
“Businesses must be able to accurately predict and plan for the city’s business tax … particularly in these difficult economic times,” said Gary Toebben, President & CEO, Los Angeles Area Chamber of Commerce. “Mayor Villaraigosa’s proposed changes to the business tax code will bring needed stability to businesses and help ensure that good standing firms are not taxed out of our city.”
The L.A. Area Chamber is a leading advocate for business tax reform in the City of Los Angeles. The Chamber has helped reduce the city’s business tax in recent years and will continue to work with Mayor Villaraigosa and the City Council to improve the business climate in Los Angeles.
The Los Angeles Area Chamber of Commerce represents the interests of business in L.A. County. Founded in 1888, the Chamber promotes a prosperous economy and quality of life in the Los Angeles region. For more information, visit www.lachamber.com.