profits, actually. But yes, "pre-revenue" companies have little to worry about in terms of corporate-level income taxes. Of course, if one of these pre-revenue startups gets gobbled up a la Instagram, then the founders and investors end up with large personal income tax bills—which are not affected by the NY policy. And yes, I realize your original comment was a joke, but it does raise a relevant point about the impact (or lack thereof) of the NY policy.
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um...silicon valley already has this covered: you only pay taxes on revenues. (badam CHING).
profits, actually. But yes, "pre-revenue" companies have little to worry about in terms of corporate-level income taxes. Of course, if one of these pre-revenue startups gets gobbled up a la Instagram, then the founders and investors end up with large personal income tax bills—which are not affected by the NY policy. And yes, I realize your original comment was a joke, but it does raise a relevant point about the impact (or lack thereof) of the NY policy.
SF and WA State have essentially a gross receipts tax, so there's some tax on revenue :(
Don't employees in SV still have to pay state taxes on their salaries?