California Wants Small-Business Owners to Pay Back $120 Million in Tax Breaks « CBS Sacramento
What kind of incident gives rise to the intrusive or over reaching government? Sometimes it’s not the executive at all, but the agencies. To Wit-
SACRAMENTO (CBS13) — Small-business investors in California were promised big breaks five years ago, but now they’re being told to pay up, instead after a court ruling.
“They relied on California law as it was written, that they would get a tax break if they invested in certain kinds of businesses,” Lieu said.
But a court ruled in December that practice by the state was unconstitutional. Now, the Franchise Tax Board wants its money.
“It sends a message that you can’t trust government. If you comply in good faith with the rules, they can go back and penalize you.”
More: California Wants Small-Business Owners to Pay Back $120 Million in Tax Breaks « CBS Sacramento
The obvious answer is tell the Tax Board to STFU, and simply end the program given the court ruling.