California Starts Sending Big Bills To Startup Investors For $120 Million In New Retroactive Taxes

Many entrepreneurs, investors, and early employees in startups in the state of California are now starting to receive big bills in the mail for back taxes that they never expected to owe. That's because in late December, when many of us were heading out for the holiday break, the state's Franchise Tax Board eliminated a deduction that had been available since 1993 to people who made money from selling stock in California-based small businesses, as long as they reinvested their gains in other small businesses in the state.

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