Panel Endorses Plan to Simplify Business Taxes

From Times Staff and Wire Reports

A City Council panel endorsed an ordinance Monday that would consolidate the 42 tax categories for businesses into nine as part of an effort to simplify the business tax system.

The council’s Budget and Finance Committee sent the ordinance to the full council for approval, also recommending that the business taxes be reduced by 4% across the board next year, as allowed for by previously adopted reforms, because revenue projections had been met.