[gnicholas]

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.

[rdl]

SF and WA State have essentially a gross receipts tax, so there's some tax on revenue :(