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October 01, 2012

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Irit Hoffenberg

That explaines why so many businesses owners are living California and move to states and cities where they dont have to pay income tax. They simply close the business in California and open a new one in the new state. Now Kansas city is going to be one of the cities that poeple from California will moved to. In Californai an S corporation owner has to pay a minimum of $800 or 1.5% of net profit. Even if there is a loss, the $800 still need to be paid to the Franchise Tax Board.

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