4 ms·
Don't forget escheat as well! This is a lawful process in the US where a state government claims your stuff if you haven't touched or looked at it in a long ti
by Nifty3929 3y ago
Don't forget escheat as well!
This is a lawful process in the US where a state government claims your stuff if you haven't touched or looked at it in a long time.
California gets a large percentage of it's revenue from escheat - just literally taking people's stuff (usually stock), without notice.
There are historical reasons that kinda/sorta makes sense, but this has transformed into a monster over time.
Edit: https://lao.ca.gov/LAOEconTax/Article/Detail/58 https://lao.ca.gov/LAOEconTax/Article/Detail/58 (2015)
- deleted 3y ago[deleted]