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JAN 18, 2013 - Inc Magazine

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California Start-ups: Your Tax Bill Just Got Bigger

The state has nixed one of the chief tax incentives for starting a business there. But it gets worse: The consequences are retroactive.Ben Franklin said nothing is certain except death and taxes. He was wrong about the latter. Tax authorities are rarely certain about next year’s tax rules, but at least you can be certain about the rules for years past. That is, unless you run a business in California. A few weeks ago, the state decided to cancel a key tax exclusion. As a result, this tax season many entrepreneurs will be facing a big retroactive tax bill. There Goes an Important ... Read More

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