Tax
Oct. 9, 2013
Brown signs bill exempting small businesses from retroactive tax hike
AB 1412 reinstates tax breaks for stock sale profits earned by some 2,500 small California businesses between January 2008 and December 2012.
By Paul Jones
Daily Journal Staff Writer
Gov. Jerry Brown signed AB 1412 into law, reinstating tax breaks for stock sale profits earned by some 2,500 small California businesses between January 2008 and December 2012.
The program to provide those tax exemptions for California businesses was struck down in court in 2012 because it violated the U.S. Constitution's Commerce Clause by showing favoritism to California businesses.
Business owners argued aga...
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