3 ms·
My late uncle was a successful, independent entrepreneur who sold industrial equipment. Effectively he acted as a broker matching precision machine shops (suppl
by wahern 8y ago
My late uncle was a successful, independent entrepreneur who sold industrial equipment. Effectively he acted as a broker matching precision machine shops (suppliers) with buyers (demand). For example, he sold specialized nozzles machined in Europe to dairy farms for a fraction of what the OEM charged for consumables. The kind of economic agent economists presume are ubiquitous but in actuality are very rare.
Originally from Chicago, he worked from Wisconsin while raising his family, and then for nearly 20 years in California. He had a very midwestern attitude regarding government which is unfortunately waning. I forgot what prompted the comment (perhaps I was complaining about Calfornia's $800 franchise fee), but he once commented that if you can't be bothered to pay and stay current with the $800 franchise fee you shouldn't be in business at all.
The $800 fee seems excessive, I feel like it's an impediment, and I've had my own run-in with the CAFTB that left me feeling railroaded. But frankly I find it hard to dispute his point.
The important thing is that the CAFTB is no joke, so if you're in California or even a resident elsewhere doing business in California, be diligent about paying California taxes or be prepared to aggressively defend yourself when they inevitably come knocking at your door (or digging through your trash, harassing your neighbors, or poisoning your dog[1]).
[1] That last one was a joke, or at least unsubstantiated.