California Bill Ties Corporate Tax Rate to Worker, Executive Pay

California’s corporate income tax rate would be based on the ratio of a company’s highest executive pay to its median workers’ pay under a bill moving through the Legislature.

S.B. 37 by Assemblywoman Nancy Skinner (D) would also increase the corporate tax if companies shift to foreign employees.

The bill passed the Senate Governance and Finance Committee 4-2 on Wednesday but it may not progress much further. Instead of moving next to the Appropriations Committee, it is going back to the Rules Committee, where bills are often held.

It must pass the Senate by Jan. 31 to stay alive ...