Water’s Edge Tax Haven and California’s Budget Shortfall
How Oil and Gas Majors Crafted a Tax Avoidance Policy Contributing to Ongoing Budget Woes
This report details how global oil majors like ExxonMobil, Chevron, and Shell orchestrated the creation of California’s Water’s Edge tax loophole — a policy that now costs California taxpayers billions annually. It offers a first-of-its-kind, historical look at how oil giants lobbied for and have benefited from the Water’s Edge tax election, shielding their profits … Read more