SB 640 Sales Tax Reform

Here it is folks: A section of SB640 which will impose sales tax on service providers. Although it mentions education, health care, and child care among the exempt industries, it is not specific on who would be subject to the tax. It does mention certain small businesses could be exempt, but does not list the income threshholds. I urge you to contact your assemblyman, and senator to vote against this bill.

From Senator George Runner’s Office:

SB640 Section 1: “(2) Broaden the tax base by imposing a modest sales tax on services. These changes would more fairly apportion taxes between goods and services and would produce more stable revenues. Local jurisdictions would not be authorized to increase the sales tax on services, as they now can do with the sales tax on goods. Health care services, education services, child care, rent, interest, and services represented by very small businesses would be exempted from the sales tax on services, and offsetting tax relief would be provided to middle- and low-income California families.
(3) Enhance the state’s business climate and incentivize entrepreneurship and business creation by lowering the corporate income tax on small businesses, exempting very small businesses from the sales tax on services, and significantly reducing the minimum franchise tax.”

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