PakNews: California targets companies with highly paid execs

Thursday, 16 January 2020

California targets companies with highly paid execs

California is considering raising taxes on some of the country's largest companies, but the size of the tax increase would depend on how much its highest-paid executive makes compared to its employees. The bill by Democratic state Sen. Nancy Skinner passed out of its first committee hearing on Wednesday, keeping it alive a head of a Jan. 31 deadline to pass the Senate. The proposal would only apply to companies that post at least $10 million of taxable income from business conducted in California.