5 ms·
That’s ~$67/mo to stay in business. I don’t see how this can be considered a horrible thing.
by juandazapata 6y ago
That’s ~$67/mo to stay in business. I don’t see how this can be considered a horrible thing.
- ashconnor 6y agoIn the UK I paid a £13 a year to file accounts online to keep my dormant company running.
- mdorazio 6y agoWhen you're a very small business losing money the first few years of operating and California sticks you with an $800 bill on top of local taxes that are also levied regardless of income (business personal property), it's a giant slap in the face that makes you want to move your business to pretty much any other state.
- athms 6y agoThen move. But remember, if you do business in California, you must still pay the franchise fee if you have a company that is NOT a sole proprietor or general partnership. Incorporating in another state will not save you, you must register with Secretary of State as a foreign entity.
- mdorazio 6y agoI closed my business last year and was about to move prior to COVID shutting everything down. California tax policies are the #1 reason I'm leaving.
- deleted 6y ago[deleted]
- s1artibartfast 6y agoProbably not much for a brick and mortar store or a software consultant, but think about the vendors selling pizza or hotdogs on the street. Alternatively, if you are involved in a few startups with losses, it can add up really fast.
- ThisIsTheWay 6y agoNot quite. It's $67/month to just be able to try to stay in business. What benefit does that tax provide to start-ups, and why isn't it a function of the product the business produces instead of the flat rate that's imposed?