Question

Which of the following were features of Proposition 30 (2012)?

1) A temporary increase in the state sales tax
2) A temporary increase in corporate revenue tax rates
3) A temporary increase in tax rates for the state's high income earners
4) A temporary increase in residential property tax rates

Answer 1

Proposition 30 (2012) included a temporary increase in the state sales tax and personal income tax rates for high earners, but it did not raise corporate revenue tax rates or residential property tax rates (3).

Step-by-step explanation:

The features of Proposition 30 (2012) were:

• A temporary increase in the state sales tax
• A temporary increase in personal income tax rates for the state's high income earners

Proposition 30 did not include a temporary increase in corporate revenue tax rates or a temporary increase in residential property tax rates. Understanding the nuances of tax policy, including Proposition 30 (2012), offers insight into how governments utilize tax revenues to fund services and initiatives.