- Feb 5, 2002
- 21,119
- 5,613
- 63
- Country
- United States
- Faith
- Catholic
- Marital Status
- Married
- Politics
- US-Others
California lawmakers are pushing legislation that would impose wealth taxes on the state’s wealthiest residents, even if they no longer live in California---even if they left the state years ago.
The bill envisions "contractual claims" tied to the assets of a wealthy taxpayer who doesn’t have liquid cash to pay the wealth tax because most of their assets aren’t in a liquid form. The plan would require the taxpayer to make annual filings with California’s Franchise Tax Board and eventually pay the wealth taxes owed, even if they’ve moved to another state.
The bill envisions "contractual claims" tied to the assets of a wealthy taxpayer who doesn’t have liquid cash to pay the wealth tax because most of their assets aren’t in a liquid form. The plan would require the taxpayer to make annual filings with California’s Franchise Tax Board and eventually pay the wealth taxes owed, even if they’ve moved to another state.
