Cupertino's recent settlement with the CDTFA allows the city to retain millions in sales tax revenue collected from Apple, positively impacting its financial future.
Mayor Sheila Mohan praised the outcome as the best for residents, commending city staff's dedication in addressing the long and challenging negotiations over disputed sales tax.
The city had been prepared to repay the state $56.5 million following an audit that suggested Cupertino improperly entered a sales tax agreement with Apple.
Despite this victory, city leaders note that they are not completely free of financial challenges, as future CDTFA decisions are anticipated to affect revenue streams.
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