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February 26, 2013

One more reason--among many--why I'm not a lawyer

How is this constitutional? From "The Californai tax that terrifies tech":

Entrepreneurs and investors in California can expect to receive a rude shock in the mail if they sold their company in the last four years. Not only did the state's Franchise Tax Board (FTB) eliminate a tax break on capital gains for small business owners and investors, it announced the tax would be reinstated retroactively. This means those who benefitted from the break can expect a bill for unpaid taxes, plus interest, stretching all the way back to 2008.

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Jack P.

I'm sure Texas will welcome the tech companies with open arms. It doesn't have the ocean or the vistas but, having lived there, I can confirm it's a great place to be. (And to be fair, the beaches in Galveston are nice, though not comparable of course.)

JKB

Interesting. I see California has found a way to stop citizens from taking measure to avoid taxes. They give a tax break then retroactively revoke it with interest. It's not like you can move to avoid those shadow taxes you incurred years ago.

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