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Give the state the requisite number of shares in-kind. Or pay cash, since you own 10% of a unicorn, and if you can't extract enough cash from that, you might as
by jdashg 6y ago
Give the state the requisite number of shares in-kind. Or pay cash, since you own 10% of a unicorn, and if you can't extract enough cash from that, you might as well burn your shares.
- garmaine 6y agoIn many cases you can’t extract cash from non-public common stock shares with sale restrictions. I am, on paper, a multimillionaire from my last company because of the restricted common stock I hold. However I cannot sell those shares, and the current CEO seems determined to run the company into the ground. My actual liquid assets are just enough to cover rent for a few months and I still work for a living. A wealth tax would kill me (although thankfully my paper wealth is below the $30m threshold).