THE BULK OF TAX-SHARING CONTRACTS IN CALIFORNIA—which let businesses share some of the local sales tax revenue they generate—go to local companies, even though deals with online retail giants like Apple and Walmart garner the most attention.
- A Bloomberg analysis finds that out of 171 contracts that cities reported, 144 went to car dealers, fleet fuel companies, industry suppliers, construction materials companies, a few brick-and-mortar shopping malls, hotels and restaurants, and other entities. The total value of the deals to this group is $669 million, compared to $303 million for 27 contracts with e-commerce retailers.
- California’s sales tax system ...