Millions of dollars in sales tax revenue that the city of Cupertino shares with hometown company Apple Inc. would be protected until 2035 under legislation a group of lawmakers is asking California Gov. Gavin Newsom to pursue.
Six lawmakers representing Santa Clara County asked the Democratic governor for a bill blocking redistribution of the tax revenue in question away from cities in the county, or the county as a whole, according to a copy of their Aug. 18 letter to Newsom obtained by Bloomberg Tax.
The proposed bill would shield Cupertino from a 73% drop in annual sales tax ...
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