Los Angeles, California -- Ryan & Company, the leading independent provider of state and local tax services in the United States, is pleased to announce that the City of Los Angeles business license tax review has been completed and is now open for comment.
Ryan & Company was chosen last April as tax advisor to the service team selected by the City of Los Angeles Office of Finance, Tax & Permit Division, to review alternatives to the Los Angeles Business License Tax. The service team was headed by MBIA MuniServices Company, with Burr Consulting taking the lead economic advisory role.
"The MBIA report is just one piece in the overall tax reform blueprint that BTAC has studied over its 5-year effort. Since its inception, BTAC has developed several recommendations that have been enacted into law including: incentives to attract new small businesses, establishment of a City Tax Settlement Bureau, and development of the TAPS 2000 program," says City of Los Angeles Business Tax Advisory Committee (BTAC) Chairperson Mel Kohn. "BTAC looks forward to reviewing MBIA's recommendations over the next several weeks.
The MBIA report cost approximately $420,000 and was funded in its entirety from the City's Tax Reform Trust Fund, monies generated through tax discovery from AB 63 and the City's Business Tax Amnesty Program. By ordinance, these monies are earmarked for business tax reform and cannot be used for City general budget purposes. The information from the MBIA report will be used to achieve an improved business tax system for the City and to develop recommendations on any possible alternatives to the City's gross receipts tax.
"We were honored to serve as tax advisor on this project. This recognition by an important taxing agency reaffirms that Ryan & Company is one of the most respected providers of state and local tax services in the country." Rich Carlson, Principal in Charge of the Los Angeles, California office, said. "We appreciate the City of Los Angeles' vote of confidence."
Ryan & Company's project team included the original project team that crafted the 1997 study analyzing the Competitiveness of City Taxes and Fees, where the City of Los Angeles was compared to its competitive cities and various approaches were considered to improve the then current tax environment. These original team members are all at Ryan & Company and have been working on this project. In fact, the team members have over 50 years' combined transaction tax experience.
Ryan, an award-winning global tax services and software provider, is the largest Firm in the world dedicated exclusively to business taxes. With global headquarters in Dallas, Texas, the Firm provides an integrated suite of federal, state, local, and international tax services on a multijurisdictional basis, including tax recovery, consulting, advocacy, compliance, and technology services. Ryan is an 11-time recipient of the International Service Excellence Award from the Customer Service Institute of America (CSIA) for its commitment to world-class client service. Empowered by the dynamic myRyan work environment, which is widely recognized as the most innovative in the tax services industry, Ryan’s multidisciplinary team of more than 4,500 professionals and associates serves over 24,000 clients in more than 60 countries, including many of the world’s most prominent Global 5000 companies. More information about Ryan can be found at ryan.com.
Senior Manager, Content, Communications, and Public Relations