California: Remember the Taxes You Didn't Owe? Surprise!by Wendy McElroy
Feb. 28, 2013
1.Trump is Right: GOP Debate Audience is Packed Full of Republican Donors
2.Caught On Camera: Preacher Cited by Officer Because It's "Illegal to Offend People"
3.75-Yr-Old German Grandmother Tells of Sexual Harassment by Migrants, Interview Gets Interrupted by Clueless "Integrated" Muslim Teens
4.Man Says He Was Fired After Pulling Gun in Gun-Free Zone to Save Woman's Life
5.FOX Con-Artists Use Unnecessary Censorship To Make Trump Sound Like He Said 'F*ck'
6.EPA Rule to Ban Car Modification
7.Ticketing For Profit So Rampant, State Lawmakers Forced to Take Action -- Cops Are Furious
8.Soros: 'Putin Aims At EU Disintegration, Threat From Russia Bigger Than From Jihadi Attacks'
California cannot chase business away fast enough, it seems: high taxes, cap-and-trade, voracious unions, bankrupt cities, and now retroactive taxation.
Shortly before the Christmas holidays and oh so quietly, the California Franchise Tax Board (FTB) rescinded a tax break that dated back to 1993. The Qualified Small Business Stock (QSBS) exclusion allowed small businesses and investors who met certain conditions to exclude or to defer 50 percent of the profits of sold stock from their personal income taxes. The incentive was intended to lure startup companies of under $50 million into the state.