Friday, December 19, 2014
PLACERVILLE, CALIFORNIA
99 CENTS

No to Proposition 24

By
October 8, 2010 |

Proposition 24 is simple. It is another attack on small businesses by the California Teachers Association, a group that is all about money and very little about what will reduce the drop-out rate in Southern California and what will improve educational outcomes in this state.

Proposition 24 would end the Net Operating Loss provision of the California Tax Code, which is, on this point, in conformity with federal tax law. NOL allows a business that had a loss this year — and there are many facing a year without profits — to apply for a refund for the two prior years when business may have been better. The balance of the loss is carried forward over the next 20 years. That is the way federal tax law operates and the way the state operates.
The CTA calls it a loophole for big corporations. In reality it is small businesses that are most in need of this tax equity measure. Congress added NOL to the tax code to compensate for inequities that result from the progressive tax system. The state Franchise Tax Board estimates eliminating the Net Operating Loss provision would affect 120,000 businesses. This is where the jobs are generated. In a state with 12.4 percent unemployment, there’s not a lot of job generating going on. And this proposition will only worsen the situation by permanently removing the NOL from state tax codes.
The state budget deal recently reached suspends the Net Operating Loss provision for two years, rendering this proposition mostly moot. The budget deal is a temporary suspension and will return state tax law into conformity with federal tax law in this one area. Don’t make it
permanent.
The Mountain Democrat urges a no vote on
Proposition 24.

Subscription Required

Thank you for reading the MtDemocrat.com digital edition. In order to continue reading this story please choose one of the following options.

Current Subscribers
If you are a current subscriber and wish to obtain access to MtDemocrat.com, please select the Subscriber Verification option below. If you already have a login, please select "Login" at the lower right corner of this box.

Subscriber Verification

Special Introductory Offer
For a short time we will be offering a discount to those who call us in order to obtain access to MtDemocrat.com and start your print subscription. Our customer support team will be standing by Monday through Friday, 8am to 5pm to assist you.

Call and Save! (530) 344-5000

If you are not a current subscriber and wish not to take advantage of our special introductory offer, please select the $12 monthly option below to obtain access to MtDemocrat.com and start your online subscription

Help?

David Martinelli

  • Recent Posts

  • Enter your email address to subscribe and receive notifications of new posts by email.

  • .

    News

    Taking a chance on Logan

    By Wendy Schultz | From Page: A1 | Gallery

     
    No deal on EID censure plan: Election shift eyed

    By Dawn Hodson | From Page: A1

     
    Downtown upbeat about Christmas

    By Wendy Schultz | From Page: A1 | Gallery

     
    Legal Professionals Association seeking more members

    By Dawn Hodson | From Page: A3 | Gallery

     
    Most offices closed for Christmas

    By Democrat Staff | From Page: A5

    More info on lockdown

    By Cole Mayer | From Page: A14

     
    Caltrans praised for King Fire Hwy 50 work

    By Cole Mayer | From Page: A14 | Gallery

    Man walks into traffic, hit by car

    By Cole Mayer | From Page: A15

     
    .

    Opinion

    The weekly Daley: A Christmas letter

    By Chris Daley | From Page: A6

     
    Gruber backpedals; time for a Mulligan

    By Mountain Democrat | From Page: A6

    Billingsley’s Bullets: An unwelcome visitor arrives

    By Bob Billingsley | From Page: A6

     
    .

    Letters

    Law enforcement

    By Letters to the Editor | From Page: A7

     
    How times have changed

    By Letters to the Editor | From Page: A7

    Head Start grant results response

    By Letters to the Editor | From Page: A7

     
    Voting while enlisted

    By Letters to the Editor | From Page: A7

    Holiday season safety

    By Letters to the Editor | From Page: A7

     
    .

    Sports

    Union Mine depth does in Grizzlies

    By Jerry Heinzer | From Page: A11 | Gallery

     
    First and goal: Home for the holidays

    By Mike Bush | From Page: A11

    Upper weights tilt match for Bruins

    By Mike Bush | From Page: A11 | Gallery

     
    Roundup: Dec. 18, 2014

    By Democrat Staff | From Page: A12

    New snow totals reach three feet

    By News Release | From Page: A12

     
    .

    Prospecting

    Coloring contest winners wow judges

    By Mimi Escabar | From Page: B1 | Gallery

     
    Let there be lights

    By Mimi Escabar | From Page: B2 | Gallery

    Things to do: Dec. 19, 2014

    By Democrat Calendar | From Page: B2

     
    Caboose leads the way

    By Pat Lakey | From Page: B3 | Gallery

    Take a break for 5k and 10K walk/run

    By News Release | From Page: B3

     
    ‘Dirty Dancing’ comes to Broadway Sacramento

    By California Musical Theater | From Page: B5

     
    InConcert captures holiday spirit

    By Inconcert Sierra Foothills | From Page: B5

    Railroad Museum to debut exhibit

    By California State Railroad Museum | From Page: B6

     
    Book signing at bike shop

    By News Release | From Page: B6

    Heavenly Holidays illuminates the season

    By Heavenly Mountain | From Page: B7

     
    Smashing Pumpkins makes a stop at the Warfield

    By Jerry Heinzer | From Page: B7

    Carson Valley Inn offers December dining choices

    By Carson Valley Inn | From Page: B9

     
    Mrs. Claus rides the Western Railway

    By Western Railway | From Page: B9

    Anthony Friedkin photos on exhibit at de Young

    By Fine Arts | From Page: B14

     
    .

    Essentials

    Lake levels 12-18-14

    By Michael Raffety | From Page: A2

     
    .

    Obituaries

    Judy Hinrichs

    By Contributor | From Page: A2

     
    Al Marion Brandalise

    By Contributor | From Page: A2

    Dorothy V. Klatt

    By Contributor | From Page: A2

     
    .

    Real Estate

    Early Christmas gifts for housing

    By Ken Calhoon | From Page: HS4

     
    A look back: Lessons learned in 2014

    By Marni Jameson | From Page: HS8

    Passing the gavel and celebrating 2015

    By Noel Stack | From Page: HS18

     
    .

    Comics

    Shoe

    By Contributor | From Page: A13

     
    Sudoku

    By Contributor | From Page: A13

    Rubes

    By Contributor | From Page: A13

     
    Long Story Short

    By Contributor | From Page: A13

    TV Listings

    By Contributor | From Page: A13

     
    Speed Bump

    By Contributor | From Page: A13

    Tundra

    By Contributor | From Page: A13

     
    Horoscope, Friday, December 19, 2014

    By Contributor | From Page: A14

    New York Times Crossword

    By Contributor | From Page: A14

     
    Horoscope, Sunday, December 21, 2014

    By Contributor | From Page: A14

    Horoscope, Saturday, December 20, 2014

    By Contributor | From Page: A14

     
    .

    Home Source

    Early Christmas gifts for housing

    By Ken Calhoon | From Page: HS4

    A look back: Lessons learned in 2014

    By Marni Jameson | From Page: HS8

    Passing the gavel and celebrating 2015

    By Noel Stack | From Page: HS18