Come to New Mexico. Cost of living is cheap and we have great weather.
California To Hit Startup Founders with Big Retroactive Tax Bills
31–40 of 318 posts
Re: California To Hit Startup Founders with Big Retroactive Tax Bills
#32Re: California To Hit Startup Founders with Big Retroactive Tax Bills
#33Come to New York! We're rolling in so much finance money we don't need to hit up small businesses.
Your state's gun laws prevent me from ever living there.
Don't come to New York, then. If your access to rifles is more important than the tax codes your startup may or may not face, stay where you are.
Re: California To Hit Startup Founders with Big Retroactive Tax Bills
#34I did a quick google and found a discussion of retroactive tax laws (applying to gift taxes in 2010):
http://www.assetprotectionsociety.org/the-likelihood-and-enf...
Potential arguments include due process, "wholly new tax", lack of notice, ex post facto (with the same caveat as mentioned here about applicability only to criminal cases), and the fifth amendment taking clause.
Conclusion: it's hard to fight.
Re: California To Hit Startup Founders with Big Retroactive Tax Bills
#35I would not have thought that retroactive tax bills were legal. Are there any other common examples or is this a new precedent?
The SC ruled that the retroactive immunity given to telecom companies was legal. I'm pretty sure "Ex Post Facto" is dead.
Retroactive immunity is rather the opposite of retroactive criminalization.
Re: California To Hit Startup Founders with Big Retroactive Tax Bills
#36Re: California To Hit Startup Founders with Big Retroactive Tax Bills
#37Come to New York! We're rolling in so much finance money we don't need to hit up small businesses.
NYC has the most outrageous taxes in the country. You might as well be in France giving up 75%.
Re: California To Hit Startup Founders with Big Retroactive Tax Bills
#38As a business owner this crap terrifies me. Washington State was looking at changing their tax code retroactively to get more money from Microsoft, luckily level heads (and I might presume, extensive lobbying) prevailed. I can't plan today for what yesterday's laws will be tomorrow.
Unfortunately, I think you'll see more of these problems as states get crushed under their existing debt and new expenditures from pension obligations, etc.
See: http://www.usgovernmentspending.com/compare_state_spending_2...
Re: California To Hit Startup Founders with Big Retroactive Tax Bills
#39Austin, TX would love to have you.
Re: California To Hit Startup Founders with Big Retroactive Tax Bills
#40Come to New York! We're rolling in so much finance money we don't need to hit up small businesses.
Thanks, but no thanks. I've experienced New York's laws on intellectual property ownership.
Any programmer who thinks that they should have any right to have "their own time" and "side projects" should leave for a more friendly state. Like California.
I am not joking.