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When looking to rent an office in the Los Angeles area, my wife discovered that the city of Beverly Hills taxes a percentage of your business income, so she dec
by raegis 6y ago
When looking to rent an office in the Los Angeles area, my wife discovered that the city of Beverly Hills taxes a percentage of your business income, so she decided not to locate there. If I recall it was a flat tax, not a "luxury" tax either. Yet plenty of businesses thrive in Beverly Hills. So this example is an "actual" which does not support the claim :)
- czbond 6y agoWhile I don't disagree that my suggestion is what will happen - in speaking with many founders they cited the egregious tax (it was more than 0.5%) as a reason for setting up shop outside the city. Which leads me to believe it was impactful - the amount was 3.62%