Secretary of State No.
Tax on Gross Receipts. Initiative Constitutional Amendment. Imposes gross receipts tax in lieu of existing taxes; repeals Section 34, Article IV, Section 12, Article XI, and Article XIII of Constitution and all conflicting laws excepting Unemployment Insurance Act and Use Tax Act. Creates Tax Board appointed by Governor empowered to fix tax rate and increase or decrease same. Declares taxes payable monthly; collectible by county tax collectors. Declares priority of tax lien. Taxes banks on different basis. Directs Tax Board to permit owners of existing tax delinquent property to pay amounts due without interest or penalties. Provides penalties for violations.
Failed to Qualify
Tax On Gross Receipts. California Initiative 1940-t-1 (1940).