Corporations Aren't Paying Their Fair Share
California loses an estimated $107 billion annually to corporate tax loopholes. Nearly half of profitable corporations pay only the $800 minimum tax while reporting billions in profits. Meanwhile, small businesses and working families carry the burden.
Offshore Tax Havens
Multinational corporations shift profits to offshore subsidiaries to avoid California taxes. The "water's edge" loophole costs billions annually.
Executive Excess
CEO pay has grown to 350 times average worker pay. Corporations deduct unlimited executive compensation, subsidizing inequality with tax breaks.
Small Business Squeeze
Small businesses can't afford the accountants and lawyers to exploit loopholes. They pay higher effective tax rates than giant corporations.
The Solution
Fair taxation that closes loopholes while protecting small businesses
Close Corporate Tax Loopholes
End offshore profit shifting. Require water's edge reporting. Minimum 15% effective tax rate for large corporations.
Executive Pay Accountability
No tax deductions for executive compensation over $1 million. Clawback provisions for misconduct.
Small Business Protection
Level the playing field. No tax increases for businesses under $5M revenue. Anti-monopoly enforcement.
Consumer Protection
Ban price gouging during emergencies. Strengthen product liability. Corporate crime accountability.
Key Provisions
Mandatory Water's Edge Reporting
End the election that allows multinationals to exclude foreign subsidiary income. All worldwide income of unitary businesses subject to California apportionment.
15% Minimum Effective Tax Rate
Corporations with over $10 million in California profits must pay at least 15% effective tax rate, regardless of credits and deductions.
Executive Compensation Limits
No tax deduction for compensation over $1 million per executive. Clawback provisions for bonuses tied to misconduct or financial restatements.
Small Business Bill of Rights
No tax increases for businesses under $5M revenue. Simplified compliance. Preserved credits and deductions. Anti-monopoly enforcement.
Price Gouging Ban
Price increases over 10% during declared emergencies prohibited for essential goods. Civil penalties of $10,000 per violation plus restitution.
Fiscal Impact
Revenue funds platform initiatives while reducing taxes for working families.