California’s Corporate Income Tax Rate Could Rival the Federal Rate

The Tax Foundation reports:

A constitutional amendment (ACA-22) pending before the California General Assembly would more than double the state’s corporate income tax rate, yielding the nation’s highest rate–an astonishing 18.84 percent, up from the current rate of 8.84 percent. Assemblyman Kevin McCarty (D), one of the lead sponsors of the amendment, characterized it as “middle class tax justice” and argued that given federal rate reductions, corporations could afford to pay more in California taxes.

The socialists controlling California.