Corporate
Apr. 16, 2013
Tax board's retroactive ruling irks startup investors, advisers
In December, the Franchise Tax Board decided to eliminate a tax deduction for people who buy, sell or invest in startup companies - an incentive that had been in place for two decades. Now some businesses are biting back.
Daily Journal Staff Writer
Small-business owners in California might be getting an unwanted surprise in their mailboxes this tax season - a bill for a tax deduction they took advantage of five years ago. Some experts say the tax further burdens the economy in a state well known for favoring and nurturing startups.
The state Franchise Tax Board, citing a court ruling, decided in December to eliminate a tax deduction for ...
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