California can tax businesses for up to 10 years after relocating, do you agree with this?

[Wiseborn]

How is it foul?

You shouldn't be able to force companies to pay taxes to states that they are no longer in.

The fact that most are Ok with this again proves the whole #bothsides thing is basically about Trump not about conservative policies.

If you're voting for Trump this should infuriate you.

 

[Dorian Breh]

They start in California for a reason. Not right for them to start there, exploit the resources as much as possible and then run off to Texas or Delaware when it’s time for profits to roll in.

Exactly. California has invested significant resources in becoming this tech incubator city. Companies use that and then run away to not pay taxes.

 

[Wiseborn]

They start in California for a reason. Not right for them to start there, exploit the resources as much as possible and then run off to Texas or Delaware when it’s time for profits to roll in.

That's business decisions

 

[BrothaZay]

They start in California for a reason. Not right for them to start there, exploit the resources as much as possible and then run off to Texas or Delaware when it’s time for profits to roll in.

Texas has the same law too

 

[BrothaZay]

You shouldn't be able to force companies to pay taxes to states that they are no longer in.

The fact that most are Ok with this again proves the whole #bothsides thing is basically about Trump not about conservative policies.

If you're voting for Trump this should infuriate you.

The law started in South Dakota
And it’s also in Texas and Florida the 2 largest red states

 

[Maximus Rex]

Exactly. California has invested significant resources in becoming this tech incubator city. Companies use that and then run away to not pay taxes.

People will be living in California but say they live in Nevada to not pay income tax

 

[bnew]

California does have legislation that can require certain businesses and individuals to continue paying taxes for up to ten years after they leave the state. This is part of the California wealth and exit tax proposal, which was introduced as Assembly Bill 2088. The tax targets individuals and businesses with a net worth exceeding $30 million. It imposes a one-time exit tax of 0.4% on their wealth, which can continue to apply to their income derived from California for up to ten years after they leave the state[1][2].

The purpose of this tax is to recoup some of the financial benefits that California provided to these individuals and businesses, such as tax breaks and other incentives, and to close a loophole that allowed individuals to avoid paying taxes on unrealized capital gains by moving out of state[1][2].

Citations:
[1] California Exit Tax & Wealth Tax: What Is it & How it Applies to You
[2] https://www.flclaw.net/understanding-the-california-exit-tax/
[3] https://www.sfchronicle.com/california/article/state-tax-people-who-move-19416847.php
[4] Leaving California? You may still have to pay taxes
[5] https://www.americanbar.org/groups/...x-can-one-ever-actually-leave-sunshine-state/

does California have a law that can require certain businesses to continue...

California does have legislation that can require certain businesses and individuals to continue paying taxes for up to ten years after they leave the state....

www.perplexity.ai

 

[Wiseborn]

The law started in South Dakota
And it’s also in Texas and Florida the 2 largest red states

Still wrong.

My point is companies should be allowed to do whatever is legally possible to save money. As long as there's State and local taxes people and companies are gonna do what's in their best interests

 

[The_Sheff]

Still wrong.

My point is companies should be allowed to do whatever is legally possible to save money. As long as there's State and local taxes people and companies are gonna do what's in their best interests

And when the states enact this law, legally they will have to pay.

So problem solved.

At some point we have to reign in corporations and shareholder profit dictating everything in this country.

 

[Dorian Breh]

People will be living in California but say they live in Nevada to not pay income tax

Yea they gotta crack down on that too.

Still wrong.

My point is companies should be allowed to do whatever is legally possible to save money. As long as there's State and local taxes people and companies are gonna do what's in their best interests

Well this would change what they can legally so then

 

[Mowgli]

You own a tech company based in California. Business is booming but the high taxes and living costs are eating into your profits. So you decide to pack up and move your headquarters to Nevada where it's cheaper to operate.

Now here’s where California’s law kicks in. Even though you’ve physically moved you’re still selling a lot of software to customers in California. Those sales are enough to trigger California’s “doing business” rules. The state says “Hey you might’ve left but you’re still making money here so you owe us taxes.”

For the next few years as long as your sales in California hit their threshold you’ve got to keep paying California taxes on that revenue. The state is making sure you’re paying your dues for the business benefits and market access you’re still getting even though you’ve crossed state lines. It's like they’re saying “You’re not off the hook just because you’ve moved.”

 

[Mook]

How is it foul?

States competing with each other is a race to the bottom. Also they start up in cali to take up its resources then move when it’s time to pay back. fukk them.

 

[Wiseborn]

And when the states enact this law, legally they will have to pay.

So problem solved.

At some point we have to reign in business dictating everything in this country.

Correct.

But I'm against it.

One of the main reasons I left the states is because I didn't want to contribute to race soldiers salaries.

Again the Coli is basically supportive of Donald Trump and definitely generally Anti Kamala yet no one is pushing back on this.

Trump may never give you tangibles but he will give you tax cuts.

That's the one promise he intends to keep.

 

[ORDER_66]

Doesnt america do the same thing if you move to a new country?

Technically yes... BUT you can revoke the citizenship and cut the strings if you want...

 

[BrothaZay]

States competing with each other is a race to the bottom. Also they start up in cali to take up its resources then move when it’s time to pay back. fukk them.

I don’t understand if you’re for or against it