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California extremely unfriendly to new business
Original post made
by John , Another Pleasanton neighborhood,
on Aug 6, 2011
Regardless of what you read in the paper or hear from California politicans the state is not friendly to starting a new business. I recently moved from Florida where I had a LLC (limited liability company). In Florida after a name search I paid a one time fee of $100. In California I had to pay $10 for the name search, $30 dollars to hold the name, and then an additional $70 dollars to get the business certified. Ok, I am good with all of this and then in the paperwork is says in additional to income taxes I must pay an annual $800 "franchise fee" whether I make money or not! I called the Secretary of States office to ask what I get for this franchise fee and I am told nothing other than the right to have a business and then pay taxes. First year expenses before even turning a profit will be $910 and then must pay income taxes of the hihgest in the nation on the income. This is ridiculous!