Posted on 03/20/2013 6:10:14 AM PDT by listenhillary
California's top-end taxpayers -- already steamed over a recent hike in the nation's highest state income tax -- are now fuming over a new $120 million retroactive tax grab on small business owners.
In December, the state's tax authority determined that a tax break claimed over the past few years by 2,500 entrepreneurs and stockholders of California-based small businesses is no longer valid and sent out notices of payment.
"How would you feel if you made a decision, which was made four years ago, (and) you absolutely knew was legally correct and four years later a governing body came in and said, 'no, it's not correct, now you owe us a bunch more money. And we're going to charge you interest on money you didn't even know you owed'," Brian Overstreet told Fox News from his office north of San Francisco.
Last year, Overstreet and his fellow investors sold Sagient Research Systems and immediately reported the sale to the California Franchise Tax Board, the state's version of the IRS. "It was good for the shareholders, it was good for the employees and good for those of us who founded it," Overstreet said about the sale of the data mining company. "We paid the tax based on the law at the time."
But the FTB changed its interpretation of the law after a state appeals court ruled unconstitutional a qualifying provision of the break requiring companies to maintain 80 percent of their workforce in California. Instead of asking the legislature for guidance on what to do, the FTB suspended the break in its entirety and ordered anyone who's claimed it in the last five years to pay up.
(Excerpt) Read more at foxnews.com ...
Never mind......
“”How would you feel if you made a decision, which was made four years ago, (and) you absolutely knew was legally correct and four years later a governing body came in and said, ‘no, it’s not correct, now you owe us a bunch more money.”
Sounds vaguely familiar to the payment schemes that exist for healthcare providers for the last 25 years.
Except the payments have already been made for the health care schemes.
Imagine individuals having to cough up 5 years of SS payments in a lump sum because the government said you didn’t pay enough.
Paraphrasing St Augustine——”Without a system of justice, what is the state but a marauding band of thieves.”
Vote them out...
Throw them out...
Wash them out...
Just get them OUT of the seat of power.
Elect some people with at least a lick of common sense.
California has lived off Hollywood taxes for decades. Miami is clamoring for that business and Hollywood is taking the bait with year round sunshine and less tax penalties ... California will eventually have to wake up when nothing is left there.
The ex post facto stricture in the US constitution applies to federal laws. Does the California constitution even have one?
Business lacking the sense to exit CA a decade ago get what the voting parasites put into law. Either they get out, or they shut up.
REFERENCE---LATINO JUST HERE FOR A BETTER LIFE SCAM-A-RAMA Seems this tax-sucking bottom-feeder worked for Cali's San Bernardino County Dept of Corrections. He told J/J he worked 9 mos and got 3 mos time off (cough) "to be with his children"---one of whom was (ahem) college age.
J/J asked him how he supported himself those 3 mos----he replied he collected UI.
THE SCAM Seems the Dept of Corrections aided and abetted govt fraud---they calculately "laid him off" and rehired him 3 mos later. The trough-swiller said he had been doing that for nine years...falsifying govt documents to get UI tax dollars (AKA government fraud) aided and abetted by the Cali DOC.
PS---when he was "laid off to be with his children," he was actually travelling to get laid by his girlfriend---she was suing him for a $4000 loan---which was why they were in J/J's courtroom.
Dang.
Too bad that attempted money grab in Cyprus didn’t work. Libs/Lefties/Progressive would have loved that — going after a fair share from everyone’s bank account.
“Imagine individuals having to cough up 5 years of SS payments in a lump sum because the government said you didnt pay enough.”
I think that day is just around the corner. Anyone with anything considered an income is not safe.
Funny thing, revenues are down as companies and people move out of state. Wonder if there's any correlation.
I think California is gaining a firm lead in the race to the cliff.
Bankrupt San Bernardino approves over $1 million in pay hikes
http://www.reuters.com/article/2013/03/19/usa-sanbernardino-pay-idUSL1N0CBBGW20130319
California officials OK $8.6 billion in debt for high-speed rail
http://www.reuters.com/article/2013/03/19/california-rail-bonds-idUSL1N0CB08Y20130319
California now leads nation in unemployment at 9.8 percent
http://washingtonexaminer.com/california-now-leads-nation-in-unemployment-at-9.8-percent/article/2524777
Last thing I remember, I was
Running for the door
I had to find the passage back
To the place I was before
“Relax, “ said the night man,
“We are programmed to receive.
You can check-out any time you like,
But you can never leave! “
Hotel California - The Eagles
Let us know when they are fuming enough to move their business out of CA and quit electing democrat parasites.
Business lacking the sense to exit CA a decade ago get what the voting parasites put into law. Either they get out, or they shut up.
And are these business confident that this tax measure is a one-off case? Or is there more to follow?
This has happened to me in Michigan too at least twice in the last 8 years when Jennie Granholm was in office. “They” created a new tax and made it retroactive and took it out of every business owner’s payroll without any notification. Like 800 bucks one time and 500 bucks another time. Talk about being ticked!
Notice that a court acted and the executive branch responded in one of the ways that it can.
Absent clarification by the court the executive moved out smartly as if the law had never existed.
This happens every day, and if you don't like it you go back to court for a clarification.
Now, apply this to the administrative (that is, executive branch) decisions regarding birthright citizenship. So far we don't have any court decisions on the matter ~ just a couple regarding peripheral issues, but nothing straight to the gut on ILLEGAL ENTRANTS. The one case frequently cited involved LEGAL IMMIGRANTS!
Not too far in the past if a foreign visitor had a baby in the USA she was REQUIRED to add the baby to her visa! BINGO ~ the State Department rules clearly did not treat the babies of foreigners just visiting in the same manner as the babies of immigrants with a legal right to be here. In fact, worse than that, the state department was directing that American born children be added to visas just as if they were foreigners!!!
Somewhere the administrative rules got revised ~ actually not too long ago when they eliminated FAMILY VISAS.
All those illegal alien babies born here could end up without citizenship if this issue were ever actually brought to court.
If California's administrators were correct ~ that with no supporting statute the previous administrative exceptions were invalid and can be dealt with retroactively, then the illegal alien babies are not American citizens. All the principles are the same.
Note, I was actually involved in some of the same sort of questions at USPS when it came to application of postage and fees to actions taken in the past. Basically, our argument ran, if the clerk overlooked a rule, or an obscure combination of rules, that we, the world's foremost experts in postal regulations could easily see, our findings prevailed ALL THE WAY BACK and the customer owed the money.
In a case at law before a court things might have been different, but for the executive there's little other choice but to take the money!~
They all moved out!
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