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Proposition 39 at a glance

By The Associated Press
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What it would do: Proposition 39 ends a corporate tax loophole to raise $1 billion a year in revenue for California.

Currently, California allows multistate companies to choose between two formulas — one that is based on the amount of sales in California or one that allows them to calculate their taxes based on payroll, property and sales. That benefits companies based in other states and allows companies to pay the least amount depending on how profitable they are year to year.

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