return2ozma to Eat The Rich · 18 days agoA Wealth Tax Floated in California Has Billionaires Thinking of Leavingwww.nytimes.comexternal-linkmessage-square9linkfedilinkarrow-up149arrow-down15file-textcross-posted to: news
arrow-up144arrow-down1external-linkA Wealth Tax Floated in California Has Billionaires Thinking of Leavingwww.nytimes.comreturn2ozma to Eat The Rich · 18 days agomessage-square9linkfedilinkfile-textcross-posted to: news
minus-squarepartial_accumenlinkfedilinkarrow-up8·18 days agoThis seems like a tax not too difficult to dodge: “The California Franchise Tax Board (FTB) presumes residency if an individual spends over nine months in California during a taxable year.” source So they’ll have to get a residence in another state for just over 3 months and stay there instead.
minus-squareerrerlinkfedilinkEnglisharrow-up4·17 days agoHow do they verify you live even a day out of state? Just buy a shitty home in a flyover state and just leave it vacant. Trivial for a billionaire.
This seems like a tax not too difficult to dodge:
“The California Franchise Tax Board (FTB) presumes residency if an individual spends over nine months in California during a taxable year.”
source
So they’ll have to get a residence in another state for just over 3 months and stay there instead.
How do they verify you live even a day out of state? Just buy a shitty home in a flyover state and just leave it vacant. Trivial for a billionaire.