RECENTLY ON TOL:
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on Measure 67
Our small family S Corp was not put out of business by the $10.00 minimum tax assessed even in years that we lost money, but we might not have kept trying to make it profitable for as many years as we did had we faced $150.00 a year minimum tax in those years. When stated as a "tax" it doesn't make any sense at all to me to assess any "income tax" on businesses with negative net income. Just call it a fee for granting a business license, or some other term.
I think there should be no "income tax" assessed if there is no reportable income.
posted 3 years, 4 months ago
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