California Gov. Gavin Newsom proposes a new 7.25% tax on web-based software sales, targeting $1.1B in state and local tax revenue in the upcoming budget year (Bloomberg)

Bloomberg: California Gov. Gavin Newsom proposes a new 7.25% tax on web-based software sales, targeting $1.1B in state and local tax revenue in the upcoming budget year — California Governor Gavin Newsom is proposing a new tax on cloud-based software sales, turning to the technology sector for billions …