California lawmakers to consider new wealth tax — and it could follow those moving to Texas
Summary by Ground NewsCalifornia lawmakers are considering a "wealth tax" that would not only introduce a 1.5% tax on net worth in excess of $1 billion by 2024, but also allow the state to pursue that tax for former residents who flee the state for tax-friendly locations like Florida or Texas.
Published 2 months ago · Sacramento, United States
California's wealthiest residents could pay more taxes under new bill
Multimillionaires and billionaires would face new taxes on their wealth under a bill pushed by a group of California Democrats, who say the state needs to aggressively crack down on “extreme wealth.”
2 months ago·S F, United StatesRead Full Article
Tax the rich? Liberals renew push for state wealth taxes
Bills announced Thursday in Minnesota, California, New York, Illinois, Hawaii, Maryland, Washington and Connecticut vary in their approaches to hiking taxes, but all revolve around the idea that the richest Americans need to pay more.
2 months ago·St Paul, United StatesRead Full Article
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