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I got really excited for a moment, then I read the fine print. But, I think is generally a step in the right direction.

How terrible would it be to collect no taxes from startups for the first year, nationally?

Most startups aren't paying significant taxes in the first year, anyways, since there will be no profits.

Correct, and a startup with low profits might benefit in tax exemption early on for long-term success (and potentially avoiding fundraising early on).

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