The Daily Breeze
looked at Toastmasters International
's proposed move to Denver, and the fight to keep the nonprofit's headquarters in Torrance, California.
"You hear about big companies moving out of California, especially to Texas," Chao said. "We have a couple of clients that have moved to Colorado. The even bigger driver is they can get into the housing market there. Prices are more affordable, and the real estate tax is less. And once they go there they realized they had a lower tax burden."
For companies, taxes are much lower in Colorado than in California. Colorado companies pay 4.63 percent of their company’s net income. California companies pay 8.84 percent, but also have a minimum amount they pay in taxes.
Nonprofits generally don’t pay taxes, Chao said. So moving to Colorado from Orange County would not offer any tax benefit to a group like Toastmasters, even though it may do so for individuals.
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