Retroactive business taxes in California… is there hope for reversal?

Twenty years ago, state lawmakers passed a tax break aimed at helping California entrepreneurs launch their own businesses.
But last year, after a state court of appeal decided the small-business tax incentives were unconstitutional, the state Franchise Tax Board figured it had only one option: retroactively collect an estimated $120 million from hundreds of Californians who took advantage of the tax breaks.
Read more…

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