California: Remember the Taxes You Didn't Owe? Surprise!by Wendy McElroy
Feb. 28, 2013
Feminists Say It's 'Racist And Sexist' for Italians to Have Italian Babies
Female Volunteers At Calais Jungle 'Having Sex With Multiple Refugees A Day'
WATCH: Badass Asian Woman Comes Out Guns Blazing Against Home Invaders
Sweden: Migrant 'Dr Mohamed' Fondles, Licks Patient's Breasts During 'Medical Exam'
Burlington Mall Shooter is Muslim Immigrant from Turkey
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Shortly before the Christmas holidays and oh so quietly, the California Franchise Tax Board (FTB) rescinded a tax break that dated back to 1993.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.