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California extremely unfriendly to new business
Original post made
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!