4 ms·
The CA wealth tax (that is only .4% a year) addresses liquidity. The taxes can be delayed until there is a sale for illiquid assets.
by gnopgnip 6y ago
The CA wealth tax (that is only .4% a year) addresses liquidity. The taxes can be delayed until there is a sale for illiquid assets.
- dpoochieni 6y agoOoof that sounds like a big loophole. What would prevent me from establishing a new entity (I the inheritor, control), having it buy assets from the old one for pennies on the dollar and then sell the old entity for a nominal amount?
- gnopgnip 6y agoThe tax is assessed based on what you own each year, not only on the final "sale" amount