Ordinance cuts business taxes for Internet-based firms in L.A. (Los Angeles Times)

The measure, signed by Mayor Villaraigosa at a Westside Internet firm, will affect an estimated 1,400 businesses. Some of them had threatened to move out of the city if the rate was not reduced. Los Angeles Mayor Antonio Villaraigosa on Monday signed a measure to cut business taxes for Internet-based firms, many of which last year saw their tax rate jump from the lowest in the city to the highest.