Monthly Archives November 2014

California: The Land of Double Taxation for Small Businesses

Just think: You run a small company. Your partner embezzles from you and you are reeling – you feel like you’ve been punched in the gut. Next, California’s state government shows up and slaps you around. When you object, Sacramento offers no apology, no comfort. You’re on your own. Farfetched? Read on to see what happened to a California Limited Liability Company (LLC) that tried to play by what it thought were common-sense rules. First, an LLC is a form of business that permits the owner to avoid double taxation. In California, such companies must pay an annual minimum franchise
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