Owners and investors of small businesses in California are ruing a federal court decision that sticks them with more than $120 million in bills for back taxes.
Now, according to several reports, state lawmakers are being urged to reverse a court decision that eliminated the Qualified Small Business Stock tax break. The tax break allowed a small business owner or an investor in small businesses based mostly in California to exclude 50 percent of their income from state tax filings.Read More
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