Trickle-down is a scam, extending the Bush tax cut is wrong:

[kx250rider]

virtually every fortune 500 company has nexus in all 50 states as well as numerous other countries...therefore, they generally have to apportion their income (and pay taxes) to every state (and many countries) in which they have nexus...where a company's home office is located is of little consequence...in fact, if they are a manufacturer (for example) and only their home office (corporate blokes) is located in cali or ny, they probably pay very little income tax in those states because the bulk of their income gets apportioned to the states where the manufacturing activities are taking place.

this concludes your $.25 tax awareness class...you're welcome

We're no fortune 500 company, but just to give an example of how hostile of an environment CA is toward any kind of business, we had to BUY A HOUSE AND BASICALLY LET IT SIT THERE VACANT in Dallas, and that was cheaper than paying CA state taxes (no affect on Fed taxes though). In order to keep it legal, we have to sleep there at least (xx) nights a year, and have all the utilities on in our name, and keep cars & insurance there too. We can't rent it out, since that would make it illegal, and what we're doing needs to be 100% legal, of course. THAT'S how bad it is to be a CA resident and own a business.

90% of our income is earned in Texas, but spent in CA. But if we declared CA as our state of residence, CA would take taxes on TX income. Mafia tactics!

Charles

 

[digimon7068]

We're no fortune 500 company, but just to give an example of how hostile of an environment CA is toward any kind of business, we had to BUY A HOUSE AND BASICALLY LET IT SIT THERE VACANT in Dallas, and that was cheaper than paying CA state taxes (no affect on Fed taxes though). In order to keep it legal, we have to sleep there at least (xx) nights a year, and have all the utilities on in our name, and keep cars & insurance there too. We can't rent it out, since that would make it illegal, and what we're doing needs to be 100% legal, of course. THAT'S how bad it is to be a CA resident and own a business.

90% of our income is earned in Texas, but spent in CA. But if we declared CA as our state of residence, CA would take taxes on TX income. Mafia tactics!

Charles

yeah...that was kinda my point...a LOT of corporations have home offices in ny and cali...but most of them pay the bulk of their taxes in other states (where the rates are more favorable) by purposely (and legally) manipulating the various factors that are used in the apportionment calculation (sales, payroll and property...in most instances)