Heads Up, Santa Clara

4 SILICON VALLEY BUSINESS JOURNAL COVIR STORY· TAXING BUSINESS COMING TO A HEAD? BY TROY Santa Clara is the latest Silicon Valley city to reconsider the Santa Clara deficit in its coming budget cycle, WOLVERTON Mayor Lisa said Councilmember Raj Chahal. twol!7erton 0way it taxes companies and the rates it charges Gillmor has Plus, Chahal said he and others @bizjournals.com anta Clara could become the next Silicon Valley city to revise how it imposes said a head on the council want to ensure the taxes on companies operaµng within its boundaries. 'II Right now, businesses taxwould be biggest corporations contribute ranging from mom-and-pop stores to globalgiants such as Intel Corp. and Nvidia a \"last resort,\" their fair share toward the city's Corp. pay an annual levy ofno more than $500 to the city. But under a proposal but city staff, costs. being considered by the Santa Clara City Council, voters this November could raise those under her rates, especi�y for the city's biggest companies. 'II As part of the still-in-development q.irection, \"We want to make it basically plan; companies would pay a fixed amo�t .per employee, with the rate of the so-called are moving equitable,\" Chahal said. \"Nvidia or head tax incrf!asirtg !}le more workers they have. Under one scenario, the city's two biggest fowardwith any ofthese billion-dollar compa­ employers might each pay more than $1 million a year.'II Santa Clara is depating increasing preparing a nies·paying $500 doesn't seem to ballot measure be equitable.\" the rates in part because. Silicon Valleys fourth-largest city is facing a nearly $20 million on the issuefor the November But to the Santa Clara Busi­ election. ness Council, the proposal is the wrong idea at the wrong time and is being put forward with insuffi.-