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To: marktwain
California taxes real estate sales. If you are leaving the state, the state requires the money not be paid to you until California extracts the state tax from the proceeds.

If a US citizen, not true. We've left the state, and we didn't need any withholding on the proceeds.

Now, we did live in the house long enough for its value to quadruple, so we'll be owing capital gains taxes to both Uncle Sam and California. A bit of a first world problem, but worth the cost to have escaped from California last month.

10 posted on 11/08/2018 8:10:55 AM PST by CatOwner
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To: CatOwner; All
I have a friend who sold his property in California. He was not a California resident, but they still witheld tax on the sale of his property there. I suppose it could be called a California tax on capital gains... As he was not a resident of California, it could not be called a tax on income. I think they call it a "francise tax" in California.
11 posted on 11/08/2018 8:18:40 AM PST by marktwain (President Trump and his supporters are the Resistance. His opponents are the Reactionaries.)
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To: CatOwner

So, where’d you move to...we’re thinking of exiting Oregon...getting just like CA...only worse weather.


16 posted on 11/08/2018 8:30:37 AM PST by goodnesswins (White Privilege EQUALS Self Control & working 50-80 hrs/wk for 40 years!)
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