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In principle it sounds like a reasonable idea but the obvious problem is that people can become domiciled elsewhere, or structure their income to avoid this. It
by Neil44 7mo ago
In principle it sounds like a reasonable idea but the obvious problem is that people can become domiciled elsewhere, or structure their income to avoid this. It would be interesting to know what's been planned to mitigate that.
- Jemaclus 7mo agohow can i structure my income to avoid income tax? asking for a friend.
- drdec 7mo agoA popular technique is to be compensated in options. Don't exercise the options, but take out loans against them.
- pc86 7mo agoThis is incredibly tech-specific, where most workers make a small fraction of $1M a year. Physicians don't get options, attorneys don't get options. This is a fairy tale answer not grounded in reality.
- drdec 7mo agoSo what is your answer then?
- pc86 7mo agoI don't need an answer to point out that your response is relevant to probably 3 or 4 people every year who: - live in Washington State; AND - are compensated at least in part in options; AND - are compensated in excess of $1M a year; AND - are compensated far enough in excess of $1M a year that they are willing to spend time and money lowering that tax liability But the answer is "you can't, at least not legally" for everyone except those few people.
- deleted 7mo ago[deleted]