4 ms·

The United States doesn't have a wealth tax (yet). Once you have something, you pay no taxes on it forever.

kerng 7y ago
When the stock vested at IPO sometime earlier this year, he had to pay at least 30% taxes on it - in the US. That is not money he could have had without actually selling some. No? This is a serious question, so I'm not understanding the downvotes. When the company i worked for IPO'd I had to pay taxes on the stock when the paper money turned into real money.
- djrogers 7y ago
  > When the stock vested at IPO sometime earlier this year, he had to pay at least 30% taxes on it - in the US. That is not money he could have had without actually selling some. No? You generally don't have to pay taxes on stock options until you actually have income from them - ie sell. There are some exceptions, and in some cases paying at-vest can actually reduce your overall tax burden (by excercising options you don't intend to sell right away, you can start the clock to turn them into long-term capital gains when you do).
  - kerng 7y ago
    Did the Uber guy have options or restricted stock units? For restricted stock units one has to pay tax at time of vesting/IPO afaik. But as founder things are probably different...
niij 7y ago
You have to pay taxes on houses and/or vehicles forever (depending on the state).
- hannasanarion 7y ago
  You don't pay taxes on your vehicle if you don't drive it. All vehicle related taxes I'm aware of are usage taxes, not wealth taxes. Real estate taxes are a thing, yeah, but only at the state level and below. A better statement would be: there is no federal wealth tax, and taxes on non-real property are unheard of, but that's a mouthful.
  - kerng 7y ago
    I'm not sure how this ended up being about wealth taxes. If you get RSU pre IPO, you have to pay regular tax on the value at IPO time. So, if you get a billion dollar in RSU, then you pay a couple hundred million in tax at time of IPO. Hence, unless you are already rich, you need to sell stock just to cover the taxes. I'm not sure what kind of stock Uber issues and what kind a founder would have gotten (e.g options, RSU,...)

When the stock vested at IPO sometime earlier this year, he had to pay at least 30% taxes on it - in the US. That is not money he could have had without actually selling some. No? This is a serious question, so I'm not understanding the downvotes. When the company i worked for IPO'd I had to pay taxes on the stock when the paper money turned into real money.

djrogers 7y ago
> When the stock vested at IPO sometime earlier this year, he had to pay at least 30% taxes on it - in the US. That is not money he could have had without actually selling some. No? You generally don't have to pay taxes on stock options until you actually have income from them - ie sell. There are some exceptions, and in some cases paying at-vest can actually reduce your overall tax burden (by excercising options you don't intend to sell right away, you can start the clock to turn them into long-term capital gains when you do).
- kerng 7y ago
  Did the Uber guy have options or restricted stock units? For restricted stock units one has to pay tax at time of vesting/IPO afaik. But as founder things are probably different...

niij 7y ago

You have to pay taxes on houses and/or vehicles forever (depending on the state).

hannasanarion 7y ago
You don't pay taxes on your vehicle if you don't drive it. All vehicle related taxes I'm aware of are usage taxes, not wealth taxes. Real estate taxes are a thing, yeah, but only at the state level and below. A better statement would be: there is no federal wealth tax, and taxes on non-real property are unheard of, but that's a mouthful.
- kerng 7y ago
  I'm not sure how this ended up being about wealth taxes. If you get RSU pre IPO, you have to pay regular tax on the value at IPO time. So, if you get a billion dollar in RSU, then you pay a couple hundred million in tax at time of IPO. Hence, unless you are already rich, you need to sell stock just to cover the taxes. I'm not sure what kind of stock Uber issues and what kind a founder would have gotten (e.g options, RSU,...)