California is currently appealing a decision that holds the state's collection of tax from entities, primarily LLC partnerships, without locations in California to be unconstitutional. Assuming that the decision is not overturned, California will loose about $1.5 billion in annual revenues. To put this into context, it will widen next year's projected defecit of $5 billion by 30%. In addition, the state would have to pay out billions of dollars in refunds for taxes collected in prior years, going back to 2001.
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