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The government of San Jose, officially the City of San José, operates as a charter city within California law under the San José City Charter. [1] The elected government of the city, which operates as a council–manager government, is composed of the Mayor of San Jose (currently Matt Mahan), the San Jose City Council, and several other elected offices.
Mahan received endorsements from the Business San Jose Chamber Political Action Committee, based in Silicon Valley, when he ran for city council in 2020. [28] [21] They claimed that they supported Mahan's plan to spend tax dollars appropriately and reduce tax burdens to encourage business growth in the city and wanted a transparent government. [28]
Sizable government employers include the city government, Santa Clara County, and San Jose State University. [130] Acer's United States division has its offices in San Jose. [131] Prior to its closing, Netcom had its headquarters in San Jose. [132] [133] On July 31, 2015, Cupertino-based Apple Inc. purchased a 40-acre site in San Jose. [134]
A tax-exempt organization is a business entity that does not have to pay federal income taxes. Nonprofits, which reinvest earnings to support their mission, are eligible to receive tax-exempt status.
This tax applies to a "dividend equivalent amount," which is the corporation's effectively connected earnings and profits for the year, less investments the corporation makes in its U.S. assets (money and adjusted bases of property connected with the conduct of a U.S. trade or business). The tax is imposed even if there is no distribution.
A franchise tax is a government levy (tax) charged by some US states to certain business organizations such as corporations and partnerships with a nexus in the state. A franchise tax is not based on income. Rather, the typical franchise tax calculation is based on the net worth of capital held by the entity. The franchise tax effectively ...
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