Is it true that in California small business gets tax refund/waiver in its first three years of operation?

July 27th, 2010 darlees Posted in Home and Small Business Tax | 1 Comment »

I was told that in California a newly registered small business could get tax refund/waiver in its first three years of operation (if business is not good), is this true or complete BS?


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One Response to “Is it true that in California small business gets tax refund/waiver in its first three years of operation?”

  1. bostonianinmo Says:
    July 27th, 2010 at 10:08 am

    BS legally, though mostly true in a practical sense.

    Most new small businesses don’t turn any profit for the first few years. If there’s no profit, there’s nothing to tax.

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