Thursday, January 17, 2013

Not only can you not plan for the future - you can't plan for the past!

Retroactive taxes YO!

Anyone who has sold a company in the last 5 years will get socked with a retroactive tax. Except probably facebook, because of their political "connections".

"As a way of encouraging entrepreneurs and investors to start companies in California, the state has long offered a tax deduction for those who start, invest in, and eventually sell companies."

"But now the state has apparently decided that it no longer needs to encourage entrepreneurs to start and keep their companies in California.

So it is eliminating the tax deduction.

Far more startling, the state is eliminating the deduction retroactively--going all the back to 2008."
Via Businessinsider.

WTF. This tax almost hit me. I'm sure this wont hurt anyone in Silicon Valley. /sarc

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