return2ozma@lemmy.world to Eat The Rich@lemmy.world · 16 hours agoA Wealth Tax Floated in California Has Billionaires Thinking of Leavingwww.nytimes.comexternal-linkmessage-square9fedilinkarrow-up144arrow-down14file-textcross-posted to: [email protected]
arrow-up140arrow-down1external-linkA Wealth Tax Floated in California Has Billionaires Thinking of Leavingwww.nytimes.comreturn2ozma@lemmy.world to Eat The Rich@lemmy.world · 16 hours agomessage-square9fedilinkfile-textcross-posted to: [email protected]
minus-squarepartial_accumen@lemmy.worldlinkfedilinkarrow-up8·12 hours 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-squareerrer@lemmy.worldlinkfedilinkEnglisharrow-up4·10 hours 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.