Bloomberg Tax
Free Newsletter Sign Up
Bloomberg Tax
Welcome
Go
Free Newsletter Sign Up

Nike Inks Deal To Share Sales Tax Revenue with California City

Sept. 18, 2020, 3:48 PM

Nike Inc. could get $17.25 million in sales tax revenue payments from the southern California city of Ontario over the next 11-and-a-half years in exchange for opening a distribution center there, making it the latest of several retailers to cut similar deals with local governments hungry for jobs.

A sales tax sharing agreement approved unanimously with no discussion by the Ontario City Council this week is one of dozens between California cities and major retailers in recent years, including Apple Inc., Home Depot, and eBay Inc. The deals leverage a 1950s state law that assigns a portion of sales ...

To read the full article log in.

Learn more about a Bloomberg Tax subscription