Critics say California’s tax system is still based on an era in which goods, not services, dominated the economy. That provided incentive for the last big reform effort, a 2009 bipartisan commission that crafted detailed recommendations for a framework relying less on income taxes generated by Wall Street investments from the most wealthy. Its key recommendation was a “business net receipts tax,” a broad tax on economic activities at a relatively low rate.
Source: latimes.com – Los Angeles Times