California - notorious for high taxes and a stifling regulatory environment - reportedly saw 1,800 businesses either relocate or disinvest from the state in 2016.
"Departures are understandable when year after year CEOs nationwide surveyed by Chief Executive Magazine have declared California the worst state in which to do business," Vranich said.
The American Tort Reform Foundation said California is among the nation's worst "Judicial Hellholes" for businesses.
According to the Vranich, three previous California governors - Gray Davis, Pete Wilson and George Deukmejian - have cited earlier versions of his business climate study to raise awareness of why companies are leaving the Golden State.
The only reason the state's population is not decreasing overall is due to the 100,000-plus people per year immigrating into California from other countries and the birth rate exceeding the death rate in the state.
In addition to business regulations driving people from the state, The Sacramento Bee reported that California lawmakers are concerned about the wealthiest residents fleeing due to high taxes.
California has the highest top income tax bracket in the nation at 13.3 percent, and its treasury receives a disproportionate 44 percent of income tax revenues from the top 1 percent of wage earners.
https://www.westernjournal.com/california-taxes-overregulation-force-1800-businesses-relocate/
"Departures are understandable when year after year CEOs nationwide surveyed by Chief Executive Magazine have declared California the worst state in which to do business," Vranich said.
The American Tort Reform Foundation said California is among the nation's worst "Judicial Hellholes" for businesses.
According to the Vranich, three previous California governors - Gray Davis, Pete Wilson and George Deukmejian - have cited earlier versions of his business climate study to raise awareness of why companies are leaving the Golden State.
The only reason the state's population is not decreasing overall is due to the 100,000-plus people per year immigrating into California from other countries and the birth rate exceeding the death rate in the state.
In addition to business regulations driving people from the state, The Sacramento Bee reported that California lawmakers are concerned about the wealthiest residents fleeing due to high taxes.
California has the highest top income tax bracket in the nation at 13.3 percent, and its treasury receives a disproportionate 44 percent of income tax revenues from the top 1 percent of wage earners.
https://www.westernjournal.com/california-taxes-overregulation-force-1800-businesses-relocate/
No comments:
Post a Comment