24 Hrs
Source:
New York Post
California wealth tax alerts entrepreneurs
California's proposed billionaire wealth tax, set for the November ballot, could lead to many wealthy entrepreneurs leaving the state, according to a prominent businessman. The tax would impose a one-time 5% net worth levy on billionaires residing in California, with payments due in 2027. Critics warn that the measure may reduce economic opportunities, jobs, and tax revenue as high-net-worth individuals might relocate to avoid the tax.
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