Tax
Jun. 14, 2013
From Russia, with money
These folks are sophisticated. They want to know, in advance, how to structure their acquisition of U.S. real property. By Bruce Givner and Owen Kaye
On May 6, 2012, the French elected Socialist François Hollande as president. One campaign goal was a 75 percent tax rate on those earning more than 1,000,000 ($1,300,000) per year, a marked increase from the previous rate of 48 Percent. This resulted in the much publicized departure of actor Gerard Depardieu to Russia. Less publicized was the move of France's richest man, Bernard Arnault (worth $42 billion) to Belgium.
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