Limbaugh chronicled how difficult it was for him to leave NY. It took years to get out of their hooks.
Back in the early 90’s I was considering moving to Eureka, Ca. to be closer to my then girlfriend who had moved back home. I must say that staying in Texas and not marrying that girl was a very beneficial decision all around. PTL.
Seems as though California citizenship is becoming about as desirable as Soviet citizenship used to be.
Like Russia, California will build an iron curtain...only with exit taxes.
My son has lived in London for over twenty years and has paid both US and British income tax. It’s so complicated, an accountant does the taxes for both places.
[[Fleeing California Taxes?]]
you;ll be tazxed if you do
Transfer your money/investments/assets to another State or Country (Cayman Islands) BEFORE you leave. I've read about many who did so and still get Cali Franchise Board dunning letters about taxes owed and they just ignore them. It may take a couple of letters to Franchise Board, but after a while they just give up.
If your money and assets are out of California, there is nothing they can do. Unless the Fedgov steps in, which they can't and won't, take your money and run and ignore California. Of course it gets complicated if you maintain a business or sale in Cali. But for the most part, yes, you can liquidate and take your assets elsewhere.
Yes, the Fedgov attempts to tax your income/profits while living out country as a USA citizen, but again, think off-shore accounts. I've been looking into once I leave this socialist state of Cali. Costa Rico, Cayman Islands, Bermuda, and a couple others don't inforce it. Surprisingly, Switzerland now has an agreement with the US about moneys transferred.
California government is a tax vampire. I never lived there, never worked there, and still had to write a lengthy letter to get them to leave me alone. My crime? I’m a Georgia resident who did some contract work for several months for a Georgia-based subsidiary of a Cali parent company. Then I moved to Arizona for a year to work as an FTE for an Arizona company. The tax vampires figured that was close enough. Unfortunately for them, I formerly practiced state and local tax law and know something about nexus and the Constitution.
California government is a tax vampire. I never lived there, never worked there, and still had to write a lengthy letter to get them to leave me alone. My crime? I’m a Georgia resident who did some contract work for several months for a Georgia-based subsidiary of a Cali parent company. Then I moved to Arizona for a year to work as an FTE for an Arizona company. The tax vampires figured that was close enough. Unfortunately for them, I formerly practiced state and local tax law and know something about nexus and the Constitution.
Does anyone here have an agenda by which one could sell everything they own, cash in all investments and get the hell out of this nation?
The Caymans would be a good destination. No taxes of any kind!