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California Wants Small-Business Owners To Pay Back $120 Million In Tax Breaks
CBS Sacramento ^

Posted on 08/20/2013 10:26:37 AM PDT by matt04

Small-business investors in California were promised big breaks five years ago, but now they’re being told to pay up, instead after a court ruling.

After following the law, many of them are getting hit with tax bills as high as $250,000.

“When we make a promise, we have to uphold it,” said Sen. Ted Lieu, D-Redondo Beach.

But that is not what the state government appears to be doing. Small-business owners are getting hefty tax breaks for tax credits they already got five years ago.

“They relied on California law as it was written, that they would get a tax break if they invested in certain kinds of businesses,” Lieu said.

But a court ruled in December that practice by the state was unconstitutional. Now, the Franchise Tax Board wants its money.

And it’s killing small businesses, says Ken DeVore, with the National Federation of Independent Businesses.

“It sends a message that you can’t trust government. If you comply in good faith with the rules, they can go back and penalize you.”

(Excerpt) Read more at sacramento.cbslocal.com ...


TOPICS: Business/Economy; Government; News/Current Events; US: California
KEYWORDS: sacramento; taxes
If you are dumb enough to do business in CA, you should expect to be screwed over by Sacramento.
1 posted on 08/20/2013 10:26:37 AM PDT by matt04
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To: matt04

Just another reason for CA to be split up into 3 or 4 states. What a lunatic asylum.


2 posted on 08/20/2013 10:28:06 AM PDT by tgusa (gun control: deep breath, sight alignment, squeeze the trigger .......)
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To: matt04
“It sends a message that you can’t trust government. If you comply in good faith with the rules, they can go back and penalize you.”

Low information voter there. I'd say he's behind the curve by a good measure.

3 posted on 08/20/2013 10:29:22 AM PDT by Tenacious 1 (Waiting for next tagline.)
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To: matt04

California is the communists dictatorship of the world. Not just America but the world. California is leading America to a land of dictatorship, greed by the ruling class, and illegals. So goes America, which is finished and will never be a constitution land again. When the riots begin, like Spain, asses will roll in their own crap and will take many of us with it. Lock and load and hold off until the crash or when some ass comes to take your gun away.


4 posted on 08/20/2013 10:33:10 AM PDT by Logical me
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To: matt04

LOL! So they want to scare away the few people left doing business there? Great move.


5 posted on 08/20/2013 10:33:19 AM PDT by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: matt04

6 posted on 08/20/2013 10:34:23 AM PDT by Michael.SF. (0bama lied, Stevens died, now 0bama covers up the lies.)
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To: tgusa

How about following the blue/red line down the shore line and split it in two? See how long the coastline lasts.

http://www.politico.com/2012-election/map/#/President/2012/CA


7 posted on 08/20/2013 10:35:14 AM PDT by matt04
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To: matt04

That map makes me shudder. Glad we bugged out years ago.


8 posted on 08/20/2013 10:40:57 AM PDT by Menehune56 ("Let them hate so long as they fear" (Oderint Dum Metuant), Lucius Accius (170 BC - 86 BC))
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To: matt04

Soon all departments of government will exist for the sole purpose of collecting taxes.


9 posted on 08/20/2013 10:42:33 AM PDT by skeeter
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To: Menehune56

The People’s Republick of Konnecticut, my current state.

http://www.politico.com/2012-election/map/#/President/2012/CT


10 posted on 08/20/2013 10:44:06 AM PDT by matt04
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To: matt04

“Investors who could be hit by the retroactive taxes did not want to go on camera, fearing they would become an easy target for the Franchise Tax Board.”


11 posted on 08/20/2013 10:44:46 AM PDT by Rusty0604
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To: matt04
“It sends a message that you can’t trust government.

You're only getting the message now? I think that was first pressed into clay tablets by the Sumerians.

12 posted on 08/20/2013 10:45:20 AM PDT by KarlInOhio (This message has been recorded but not approved by Obama's StasiNet. Read it at your peril.)
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To: matt04
“They relied on California law as it was written,..."

Suckers.

13 posted on 08/20/2013 10:46:20 AM PDT by Navy Patriot (Join the Democrats, it's not Fascism when WE do it, and the Constitution and law mean what WE say.)
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To: Rusty0604

The California Franchise Tax Board is, if even possible, worse than the IRS.


14 posted on 08/20/2013 10:52:16 AM PDT by Mouton (The insurrection laws perpetuate what we have for a government now.)
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To: matt04
But a court ruled in December that practice by the state was unconstitutional. Now, the Franchise Tax Board wants its money.

It took 5 years for the Franchise Tax Board to shop for a judge? You'd think they have one standing in the wings ready to strike the law down.

15 posted on 08/20/2013 10:59:20 AM PDT by hattend (Firearms and ammunition...the only growing industries under the Obama regime.)
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To: Mouton

I know, I lived in CA until last year.


16 posted on 08/20/2013 11:02:00 AM PDT by Rusty0604
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To: Rusty0604

I left long before you did but I know that place well. One time they even tried to tax retirement for the portion of the retirement earned in Cal. Can you beat that one? I would not doubt they want to remove as many guns and as much ammo from the public there as possible because when the shooting starts, they will be number one.


17 posted on 08/20/2013 11:06:06 AM PDT by Mouton (The insurrection laws perpetuate what we have for a government now.)
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To: Mouton

I know they did. I worked with a public employee union and they were outraged that a person could save in a 401(K) tax deferred and then leave the State without paying their “fair share”. (Which is exactly what I did)


18 posted on 08/20/2013 11:13:22 AM PDT by Rusty0604
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To: matt04

They should all just close shop.

Obama has made his preference for big business easily controlled by government and shakedowns by liberals than small business too


19 posted on 08/20/2013 11:15:28 AM PDT by GeronL
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To: matt04

Tribute must be paid.


20 posted on 08/20/2013 11:18:03 AM PDT by The Public Eye
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To: matt04

Yup! That’ll learn em!


21 posted on 08/20/2013 11:19:57 AM PDT by SgtHooper (The last thing I want to do is hurt you. But it's still on the list.)
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To: Mouton

Instead of walling off the Southern border, we should wall off CA on the US side, and funnel all the illegals into CA from the South.


22 posted on 08/20/2013 11:22:57 AM PDT by SgtHooper (The last thing I want to do is hurt you. But it's still on the list.)
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To: matt04
Typical super-lib title, as indicated by the phrase "pay back" with regard to taxes.

News bulletin to @hole libs...

Producers, as in small businesses in this case, don't "pay back" ANYTHING to their tyrannical CA government overlord. All they do is PAY. Tax breaks are just additional funds that the small businesses EARNED themselves that the government didn't STEAL the first time around.

You don't "pay back" money that you yourself earned to someone who wants to steal it.

Non-libs needs to call these liberal media scum on their language bias whenever it happens. This one is blatant.

23 posted on 08/20/2013 11:47:45 AM PDT by MCH
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To: matt04

Laughing at California after their “transgendered student bill” and ALL the rest of the mess they’ve created after 20+ years one party rule!


24 posted on 08/20/2013 11:49:33 AM PDT by JSDude1 (Is John Boehner the Neville Chamberlain of American Politics?)
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To: Mouton
From wikipedia:

It is part of the California State and Consumer Services Agency

Hahaha. Consumer services. The consumer is the state taking as much of you money as possible.

25 posted on 08/20/2013 12:36:12 PM PDT by matt04
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To: hattend
It took 5 years for the Franchise Tax Board to shop for a judge? You'd think they have one standing in the wings ready to strike the law down.

Yes, but, now they have 5 years of retroactive taxes to collect. Done on purpose, I think.

26 posted on 08/20/2013 12:38:51 PM PDT by TangoLimaSierra (To the left the truth looks like Right-Wing extremism.)
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