Hahn Signs Three Laws Aimed at Tax Reform
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Mayor James K. Hahn on Monday signed into law three ordinances aimed at reforming Los Angeles’ business tax system, including a 15% cut in taxes for firms that make more than $100,000, to be phased in starting in 2006.
Hahn also signed a measure eliminating business taxes on bad debts and one reducing levies on motion picture, television and radio producers.
An ordinance that appears close to final approval would exempt companies making $100,000 or less from business taxes.
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