Big profits and highly paid CEOs could cost California companies

April 8, 2019

Companies making the most money and paying their top management the biggest salaries would pay a lot more in taxes to help fund public schools if two Bay Area legislators have their way.

State Sen. Nancy Skinner, D-Berkeley, and Assemblywoman Buffy Wicks, D-Oakland, plan to introduce a bill Monday, The Chronicle has learned, raising the corporate tax rate for companies with net income above $10 million — the top 0.2% of companies that do business in the state — to 10.84%, up from 8.84%.

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