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Entrepreneurs and investors in California can expect to receive a rude
shock in the mail if they sold their company in the last four years. Not
only did the state's Franchise Tax Board (FTB) eliminate a tax break on capital gains for small business owners and investors, it announced the tax would be reinstated retroactively.
This means those who benefitted from the break can expect a bill for
unpaid taxes, plus interest, stretching all the way back to 2008.
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