It took 40 seconds earlier this month for the California city of Ontario to approve a 15-year deal to give the maker of North Face apparel about $20 million of its sales tax revenue for locating a warehouse in the city.
The latest in a long string of tax-sharing agreements comes less than a month before a new state law takes effect forcing more transparency with such deals. But it’s unclear if the new law effective Jan. 1 will dampen enthusiasm among California cities for dangling multi-million dollar payouts to lure in corporate headquarters and regional warehouses.
Bloomberg Tax this ...
Learn more about Bloomberg Tax or Log In to keep reading:
See Breaking News in Context
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools and resources.