BizSugar.com › Taxes › L.A. Mayor Eric Garcetti to propose eliminating business tax

If in the next four years, the City Council is able to completely phase out the business tax that generates $400 million for the city of the Los Angeles annually, will L.A. see a rise in business creation ad activity that it has not seen over the base few years? And who (or what) is to make up the difference in the city's budget that business tax will no longer contribute to?