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Be Your Own Boss?

Senator Portantino’s Small Businesses Friendly Legislation Passes Key Committee in the Legislature

                                                                                                                               Wednesday May 1, 2019

Yvonne Vasquez (916) 651-4025

Yvonne.Vasquez@sen.ca.gov

Sacramento, California – Today, SB 349 passed the Senate Governance & Finance Committee. SB 349 authored by State Senator Anthony J. Portantino (D–La Cañada Flintridge) and co-authored by Assemblymember James Ramos (D- Highland) modifies the minimum franchise tax on small businesses and creates a tax structure to encourage entrepreneurship in California.  

SB 349 is an attempt to help small businesses succeed and encourage investment growth while also respecting protections with LLCs (Limited Liability Corporations).  The bill creates a fee structure based on a small businesses annual gross receipt to replace the flat $800 flat minimum tax mandate. This will help foster growth of small businesses and encourages entrepreneurship.

Running your own business can be fun or not! If you have an entrepreneurial spirit- it may be the perfect solution!

My friend Sharon just started her own business from her life long hobby- genealogy!

See www.JourneysUntoldGenealogy.com

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