SmallBusinessNewz

Though it's the big business world that stands as the obvious target in a tax provision that's part of California's proposed budget, an organized effort claimed the measure would impact six small businesses for every one large business affected.

The statement from 29 organizations called for a small business exemption from the provision. Lawmakers created the provision to suspend net operating loss declarations for three years to close an apparent loophole in the tax law.

Normally a net operating loss may be carried into future years as a deduction against later earnings. The deduction reduces the amount of tax California collects; Sacramento expects to pull in $1.1 billion by suspending that carry-over.

Minimum wage increases today: States that were not meeting the federal minimum wage of $6.55 per hour for their employees will see the 70 cent increase take place today.

The increase comes amid complaints from business owners about the expense, as well as rising fuel and grocery costs that likely eroded the value of the raise months ago.

The New York Times said 25 states already met or exceeded the new federal minimum wage, with the rest being mandated to bring their wage pay in line with the new rate.