Kalifornia exit tax incoming

techno-ag

12:27p, 4/24/24

https://www.foxnews.com/opinion/thinking-moving-your-blue-state-may-soon-charge-you-exit-tax

Quote:
California already has cities that include "mansion taxes" for sales of real estate properties. This is why you've seen so many wealthy people move to Nevada. Business owners often tell me that California is one of the of the most difficult states to do business in right now.

With all these factors, many people who have built up their wealth are now thinking the Golden State isn't so golden anymore.

So, how does California attempt to solve their massive deficit problem and create a new tax scheme that other broke blue states are likely to follow? They create an EXIT TAX for those who want to move from the state.
…
The exit tax is 0.4% of an individual's net worth over $30 million in a tax year, no matter where it's located -- within California, other states within the U.S. or overseas. This amount is halved to $15 million if a married taxpayer files a separate return to their spouse. This EXIT TAX follows you to another state for up to 10 years.

As usual unforeseen consequences will come about because of this. You might see people find loopholes to "lose" their wealth before moving, or some interesting court cases.

Anyway the immediate effect is to put wealthy people on notice. Don't even think about moving to Kalifornia. It's like the hotel. You can check in but you can never leave.

Buy a man eat fish, he day, teach fish man, to a lifetime.

- Joe Biden

I think that, to be very honest with you, I do believe that we should have rightly believed, but we certainly believe that certain issues are just settled.

- Kamala Harris

digging tunnels

12:28p, 4/24/24

More reasons why California sucks

Little Rock Ag

12:29p, 4/24/24

I don't see how that is legal, and, secondly, how can they enforce it if you move to another state?

Tramp96

12:29p, 4/24/24

How is that remotely constitutional?

DeSantis 2024

Anastasia Beaverhaven

12:29p, 4/24/24

Just don't pay it. What are they going to do?

AgGrad99

12:29p, 4/24/24

Are taxes like this even legal? If you leave, how could they enforce it?

Logos Stick

12:30p, 4/24/24

You can vote your way into a Marxist hellhole, but you have to shoot (or pay) your way out.

Hubert J. Farnsworth

12:30p, 4/24/24

That is tyranny.

itsyourboypookie

12:31p, 4/24/24

In reply to Little Rock Ag

Little Rock Ag said:
I don't see how that is legal, and, secondly, how can they enforce it if you move to another state?

They froze an account that belonged to Grant Cardone over $700 worth of taxes owed

JWinTX

12:32p, 4/24/24

In reply to Anastasia Beaverhaven

Anastasia Beaverhaven said:
Just don't pay it. What are they going to do?

If you move to a red state, they wont do anything. Move to a blue or purple state? They'll probably get reciprocity in helping CA get their money.

TxAgPreacher

12:32p, 4/24/24

Why don't we just all vote to kick comiefornia out of the USA, and have a conservative supermajority for decades.

El Gallo Blanco

12:32p, 4/24/24

In reply to Tramp96

Tramp96 said:
How is that remotely constitutional?

You think that crosses the evil demented pea brain of a single lib when it comes to anything? They're godless, evil, vindictive and envious sacks of ****. Every single one.

AgNav93

12:32p, 4/24/24

California has become like the ACC, a ****ty football conference, that makes you pay to leave. Congrats dimwit voters you managed to turn the Golden state into the brown state.

fixer

12:34p, 4/24/24

Let them eat their own. Penalizing the emigration from blue states is a good thing.

MouthBQ98

12:43p, 4/24/24

In reply to fixer

fixer said:
Let them eat their own. Penalizing the emigration from blue states is a good thing.

People say this, but it is statistically the red voters who mostly are leaving. They actually make the states they go to mostly more red.

PCC_80

12:44p, 4/24/24

They are starting at $30Mill in Net Worth and for 10 years after leaving. Bet those numbers comes down really really quick. Maybe 5 years from now it will be $100K in Net Worth and they will want to tax you for 20 years. SCOTUS or Congress needs to nip this crap in the bud.

JW

12:46p, 4/24/24

Rich leftists will flock to red states and vote the same way. It will be different this time they say.

4stringAg

12:46p, 4/24/24

Something about taxation without representation. If you are living in another state and still have to pay a tax to California for up to 10 years after you leave, that's seriously ****ed up. It might deter some from leaving but it will for sure deter a ton of wealthy taxpayers from ever moving to that hellhole state.

rocky the dog

12:53p, 4/24/24

Elections are when people find out what politicians stand for, and politicians find out what people will fall for.
- Alfred E. Neuman

MousepadMarauder

12:56p, 4/24/24

They will enforce it with a state court judgment and the full faith and credit clause of the United States constitution.

misterguinness

12:58p, 4/24/24

Wondering how much this will deter elite professional athletes who may consider the Dodgers, Lakers, etc.

2+2=5

Slicer97

1:00p, 4/24/24

In reply to 4stringAg

4stringAg said:
Something about taxation without representation. If you are living in another state and still have to pay a tax to California for up to 10 years after you leave, that's seriously ****ed up. It might deter some from leaving but it will for sure deter a ton of wealthy taxpayers from ever moving to that hellhole state.

I seem to recall a couple of wars fought because of this.

I don't think this will survive a legal challenge. If it does, it's worth going hot over.

DrEvazanPhD

1:03p, 4/24/24

In reply to MousepadMarauder

MousepadMarauder said:
They will enforce it with a state court judgment and the full faith and credit clause of the United States constitution.

Does California honor my CHL?

Teslag

1:06p, 4/24/24

In reply to 4stringAg

4stringAg said:
Something about taxation without representation. If you are living in another state and still have to pay a tax to California for up to 10 years after you leave, that's seriously ****ed up. It might deter some from leaving but it will for sure deter a ton of wealthy taxpayers from ever moving to that hellhole state.

Bigger issue is that it violates the takings clause

fixer

1:52p, 4/24/24

In reply to MouthBQ98

MouthBQ98 said:
fixer said:
Let them eat their own. Penalizing the emigration from blue states is a good thing.

People say this, but it is statistically the red voters who mostly are leaving. They actually make the states they go to mostly more red.

Does your own intuition and observations indicate the statistics have any validity?

JFABNRGR

3:01p, 4/24/24

I hope TX enforces this for CA and sends them back to stand trial.....permanently.

annie88

4:13p, 4/24/24

In reply to techno-ag

I don't care where they go, but they better not ****ing come to Texas. Because they'll bring that just crap with them. They've ruined their states and instead of moving away from the Democratic Party, they will still support and vote for them, it's truly astonishing. Seriously these people can just go screw themselves.

UTExan

4:31p, 4/24/24

In reply to Tramp96

Tramp96 said:
How is that remotely constitutional?

It ain't.
That won't stop them because they have demonstrated subzero respect for the constitution.

It is better to light a flamethrower than to curse the darkness- Sir Terence Pratchett
“ III stooges si viveret et nos omnes ad quos etiam probabile est mittent custard pies”

MemphisAg1

4:33p, 4/24/24

Does anyone know how California claims to still have taxing authority over someone after they leave the state?

AggieMD95

8:01p, 4/24/24

Like a virtual Berlin Wall going up.

Once the west German economy took off under non progressive govt , citizens fled at similar rates to get to economic freedom

Mas89

8:11p, 4/24/24

In reply to annie88

Muy

8:17p, 4/24/24

In reply to Little Rock Ag

Little Rock Ag said:
I don't see how that is legal, and, secondly, how can they enforce it if you move to another state?

Liberals are simply lazy and unserious thinkers. Their only solution to people leaving is to punish them financially.

redcrayon

8:18p, 4/24/24

In reply to MouthBQ98

MouthBQ98 said:
fixer said:
Let them eat their own. Penalizing the emigration from blue states is a good thing.

People say this, but it is statistically the red voters who mostly are leaving. They actually make the states they go to mostly more red.

Any stats to back this up? I've only ever seen people quote one exit poll.

AgDad121619

8:20p, 4/24/24

In reply to techno-ag

techno-ag said:
https://www.foxnews.com/opinion/thinking-moving-your-blue-state-may-soon-charge-you-exit-tax

Quote:
California already has cities that include "mansion taxes" for sales of real estate properties. This is why you've seen so many wealthy people move to Nevada. Business owners often tell me that California is one of the of the most difficult states to do business in right now.

With all these factors, many people who have built up their wealth are now thinking the Golden State isn't so golden anymore.

So, how does California attempt to solve their massive deficit problem and create a new tax scheme that other broke blue states are likely to follow? They create an EXIT TAX for those who want to move from the state.
…
The exit tax is 0.4% of an individual's net worth over $30 million in a tax year, no matter where it's located -- within California, other states within the U.S. or overseas. This amount is halved to $15 million if a married taxpayer files a separate return to their spouse. This EXIT TAX follows you to another state for up to 10 years.
As usual unforeseen consequences will come about because of this. You might see people find loopholes to "lose" their wealth before moving, or some interesting court cases.

Anyway the immediate effect is to put wealthy people on notice. Don't even think about moving to Kalifornia. It's like the hotel. You can check in but you can never leave.

shoot why stop there. Need to tax the folks who have never lived there because they don't live there now.

Fightin_Aggie

8:28p, 4/24/24

In reply to techno-ag

techno-ag said:
https://www.foxnews.com/opinion/thinking-moving-your-blue-state-may-soon-charge-you-exit-tax

Quote:
California already has cities that include "mansion taxes" for sales of real estate properties. This is why you've seen so many wealthy people move to Nevada. Business owners often tell me that California is one of the of the most difficult states to do business in right now.

With all these factors, many people who have built up their wealth are now thinking the Golden State isn't so golden anymore.

So, how does California attempt to solve their massive deficit problem and create a new tax scheme that other broke blue states are likely to follow? They create an EXIT TAX for those who want to move from the state.
…
The exit tax is 0.4% of an individual's net worth over $30 million in a tax year, no matter where it's located -- within California, other states within the U.S. or overseas. This amount is halved to $15 million if a married taxpayer files a separate return to their spouse. This EXIT TAX follows you to another state for up to 10 years.
As usual unforeseen consequences will come about because of this. You might see people find loopholes to "lose" their wealth before moving, or some interesting court cases.

Anyway the immediate effect is to put wealthy people on notice. Don't even think about moving to Kalifornia. It's like the hotel. You can check in but you can never leave.

This seems like a blatant interstate commerce violation that would get laughed out of court

But I guess its (D)ifferent

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