4 ms·
Where is the source that CA is likely to tax unrealized gains?
by dglass 6y ago
Where is the source that CA is likely to tax unrealized gains?
- pokstad 6y agoI don’t know about this, but California law makers were discussing an asset tax at one point. The discussed law would have worked across state lines for up to 10 years to catch rich people who leave state lines. Just the discussion of such a law probably spooked the ultra rich. More details: https://weaver.com/blog/california-proposed-wealth-tax-impacts-beyond-states-border https://weaver.com/blog/california-proposed-wealth-tax-impac...
- da_big_ghey 6y agoIt's questionable whether such a law is actually enforceable, and I'd hope it wouldn't hold up in court. That said, I can't blame Musk et al. for being worried by it.
- chucknthem 6y agoBeing unenforceable doesn't stop a state from passing it (see AB5 recently with most industries getting exceptions). And once it passes, it posses serious business risk to operate in that state.