By ROBERT DIGITALE
Legislation that would rescind a retroactive state tax on business owners passed its first test Wednesday in Sacramento.
The state Senate Governance and Finance Committee voted 6-1 to approve SB 209, which would reverse a Franchise Tax Board ruling that affects up to 2,500 business owners.
The owners claimed a tax exemption for the sale of small businesses within the past five years. Late last year the tax board retroactively ended the exemption after losing an appellate court lawsuit.