California Businesses: This state of the United States is home to over 6 million people. It is the third largest economy in the United States and is ranked as number one in terms of expatriates. This is due to the nature of its culture, which is a mix of Chinese, Mexican, and Californian.
Regulating California Businesses
The California Business and Professional Association have put forth a proposal that establishes an agreement between the California State and Federal governments in order to regulate certain aspects of the California Business. What is actually needed is the establishment of one state-wide system to regulate the California Business as a whole.
The proposed system would have established standardized licensing and taxation. The California business‘ licensing system is already flawed in that it fails to provide public access to the professionals and due care should be taken in the creation of the regulatory authority.
Policy changes need to be made in order to ensure that the purpose of the license is achieved: To encourage California’s success in the international arena. That is because the United States will not only benefit from California’s success but also from its emerging role as a market leader.
As the California Business and Professional Association have pointed out, it is paramount that the laws for the licensing of California businesses must include an infrastructure that gives equal access to all California businesses and professions. The regulations must ensure that all California businesses are free to create jobs and flourish.
It is our aim to create a comprehensive and interconnected regulatory structure. A regulatory system in the State of California must be interlinked with similar systems in other states.
If the implementation of the regulatory system is linked with state policies in other states, it is easier to extend the jurisdiction of the regulatory system from one state to another. On the other hand, if the regulatory system is directly linked with state laws and regulations, it will be easier to define and prescribe the scope of the regulatory scheme. Of course, the more uniform and relevant the regulatory scheme is in other states, the less chance of collusion among jurisdictions.
California – A Tax Haven?
In order to combat California’s growing reputation as a tax haven, it is essential that the regulatory system of the California Business must remain as simple as possible. The enforcement of certain laws needs to be complemented by a proactive stance towards combating tax evasion.
Regulatory schemes need to be systematically developed, ensuring that the proposed system has the flexibility to adapt to the changing dynamics of the world economy. The current system has outlived its usefulness and is outdated.
Implementing a coordinated regulatory scheme in California is a necessity in order to establish a smooth and comprehensive enforcement system. It is important that the regulatory scheme includes every sector of the state and industry.
- It should also offer equal access to any person wishing to pursue a career in the management of the California business.
- California’s economic standing and the environment for business and jobs should be able to continue to thrive even if the State Government begins to take control of the regulatory system.
- The implementation of a regulatory system should include a system that gives equal access to all California businesses and professions and that provides for a coordinated enforcement that will ensure that California continues to thrive.