California’s battle over taxing multinational corporations heats up again

California’s battle over taxing multinational corporations heats up again

Nearly a half-century ago, during Jerry Brown’s first stint as governor, he and state legislators became embroiled in an extremely complex political squabble over taxing the incomes of multinational corporations. At the time, California employed what was dubbed “unitary taxation,” requiring such corporations to report all income, including that of foreign subsidiaries, upon which a […]