L.A. is a Taxing Place to Live
September 17, 2009
Los Angeles, California like many other cities in this economy is struggling financially. So much so, that city officials decided to institute an amnesty program for business owners that owe years of taxes. The program ran from May 1 to July 31, 2009 and allowed businesses to pay those back taxes without the normal penalties, potentially running as high as 40%. The program, which was expected to bring in $10 million dollars, instead raised $18.6 million, and was deemed a success by Mayor Antonio Villaraigosa. However, the city is still considering cutting jobs and issuing furlough days for city employees in an effort to close its $405 million budget gap and avoid bankruptcy in early 2010. click here for limerick
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