Disney asks Anaheim to be released from tax agreements

Posted | Contributed by Jeff

In a surprise move, Walt Disney Co. asked the city of Anaheim, California -- home of its Disneyland theme park -- to let it out of two tax agreements that would have given the company hundreds of millions of dollars in subsidies.

Read more from Bloomberg.

TheMillenniumRider's avatar

So apparently the company will somehow save hundreds of millions by being removed from these subsidies. So I wonder, what exactly were the conditions of the subsidies, and by being release what does Disney no longer have to abide by to save them those hundreds of millions?

Tekwardo's avatar

Did you read the article?

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TheMillenniumRider's avatar

I did now, didn't expect the article to actually explain how they would be saving money. But I still hold my thoughts from above, what else besides minimum wages does Disney save on? The $18 wage is not been voted on yet, assuming it passes which Disney expects it will, the wage increase increases $1/yr until it caps at $18 on 1/1/2022. do those few dollars an hour offset the entire tax subsidies or is there more to it?

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