3 ms·
People are so cute when they threaten to leave California because their taxes are a little bit higher. He is likely taking advantage of the long term capitals
by migueldeicaza 14y ago
People are so cute when they threaten to leave California because their taxes are a little bit higher.
He is likely taking advantage of the long term capitals gain tax already, reducing his taxes from 35% or so to 17% or so.
- aliston 14y agoThat was my reaction as well, but after reading a bit more about it, it appears California taxes capital gains as regular income. This bill might as well have been called the "taking money from Facebook investors" bill... combined with the federal capital gains rate, most startup IPO beneficiaries are going to pay ~30%.