Mish's Global Economic Trend Analysis: California Delays Payments, Ponders IOUs Again, Demands 80% of Income Tax Paid Before It's Even Earned

Mish's Global Economic Trend Analysis: California Delays Payments, Ponders IOUs Again, Demands 80% of Income Tax Paid Before It's Even Earned: "I just picked up tax documents from my CPA. California require me to pay 30% of my estimated tax for the year on 04/15/10 and another 50% by 06-15-10. The balance of 20% is due on 01-15-11.

They want 80% of my annual estimate after 6 months, taxing me on money I have yet to earn for the year."