“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. Now, not only will stockholders have to pay the full tax rate on capital gains, which has risen to about 13%, but they’ll also be billed retroactively for 50% of the taxes they excluded.”
http://tech.fortune.cnn.com/2013/02/21/the-california-tax-that-terrifies-tech/
