Broke California making life even harder on businesses (Anaheim, Orange: employment, go bankrupt)

[EscapeCalifornia]

Cal. use-tax deadline creating havoc, experts say

March 4th, 2010, 11:30 am · 4 Comments · posted by Jan Norman, small-business columnist

The state has automatically registered every California business with revenue of $100,000 or more to file annual tax returns for everything they bought out of state. And these businesses have six weeks to file the first return going back three years.

This registration and short filing deadline “are set to create havoc on the Board of Equalization staff and businesses throughout California,” states an open letter to the legislature and elected members of the Board from Spidell Publishing, the Anaheim-based publisher of the California Tax Letter.

Among the problems:

* Businesses don’t have enough time to collect records from the past three years
* They must file by April 15 even if they file their income taxes, which require some of the same information, at another date
* The notification was mailed March 1 but may not reach all affected businesses

Click below for the full story:

Cal. use-tax deadline creating havoc, experts say - Jan Norman on Small Business : The Orange County Register

[jbunniii]

California seems to be willing to try every trick in the book EXCEPT the most obvious one: start slashing some of the legions of state employees. A 20% headcount reduction would go a long way toward righting the state's finances, and if the terminees are judiciously chosen, productivity might actually go UP.

Also, immediately shift all employees with pension plans (defined benefit) to ordinary retirement accounts (defined contribution). It may not be legally possible to do this for the contributions that have already been made, but certainly for all future contributions it can and should be done.

[Curmudgeon]

Originally Posted by jbunniii

California seems to be willing to try every trick in the book EXCEPT the most obvious one: start slashing some of the legions of state employees. A 20% headcount reduction would go a long way toward righting the state's finances, and if the terminees are judiciously chosen, productivity might actually go UP.

Also, immediately shift all employees with pension plans (defined benefit) to ordinary retirement accounts (defined contribution). It may not be legally possible to do this for the contributions that have already been made, but certainly for all future contributions it can and should be done.

Nope! Not for past contributions and not for current employees at all. That would be a violation of their employment contract. Such changes can legally be made only prospectively, not retrospectively.

Nice try, though!

[MonkeyKid]

Originally Posted by Curmudgeon

Nope! Not for past contributions and not for current employees at all. That would be a violation of their employment contract. Such changes can legally be made only prospectively, not retrospectively.

Nice try, though!

if the state of CA were to go bankrupt would this be possible? If so I am waiting for the day CA goes bankrupt so it can reform its horrible system.

[Snort]

Brlliant thinkers here, always looking for ways to fine tune the economic engine that's left in this state.

[Curmudgeon]

Originally Posted by MonkeyKid

if the state of CA were to go bankrupt would this be possible? If so I am waiting for the day CA goes bankrupt so it can reform its horrible system.

More bad luck. The state constitution precludes and I don't think there's any provision in federal law to permit a filing for bankruptcy.

I suppose the state could always try to secede and then declare itself belly-up but it probably takes too many votes to get the job done.

I guess they might actually have to fix it instead!

[icstitch]

California just needs to give us (poor people) the money so we can spend it to the companies, and than the companies will get money... Reasonable for everyone!

[bellalunatic]

Originally Posted by icstitch

California just needs to give us (poor people) the money so we can spend it to the companies, and than the companies will get money... Reasonable for everyone!

Please tell me you are being sarcastic.

[EscapeCalifornia]

Originally Posted by bellalunatic

Please tell me you are being sarcastic.

Given this poster's obsession with the high price of a ticket to Disneyland, I don't think so.

[proudmommy]

204 companies left California | california, companies, rel - 2010 total - The Orange County Register