As the State of California continues to face choking financial pressure with a huge budget deficit, new ideas are constantly being floated around Sacramento. The latest however would not only affect California’s blue-collar resources, but would hit home hard in the service industry, from Lawyers to CPA’s to IT Professionals.
According to this article in the Ventura County Star, politicians in the Capital are,
“advocating tax withholding on payments to independent contractors (1099) as a way to boost state revenues by $1.7 billion.”
What do you think about about Sacramento’s proposal and will it really help close the state’s budget crisis? Share your thoughts here, or by email.
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