Since I first wrote about gun liability insurance in the wake of the Newtown massacre, three states Connecticut, Massachusetts and California have introduced bills to require that gun owners purchase liability insurance.

FORBES: The Myth of Gun Liability Insurance

It is on the condition that the group of business owners ensures public liability insurance is in place.

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Even more important, owners of limited liability corporations (LLCs) and subchapter S corporations will see their state income taxes eliminated entirely.

FORBES: It's Not Just The Feds, The States Face Their Own Fiscal Cliffs, Too