Tax
Feb. 19, 2020
Leaving California? Watch out for an FTB audit
If you are about to sell stock, your cash of bitcoin, your out of state real estate holdings, or settle a career lawsuit, you might want to move first.
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
California may have a record number of millionaires and billionaires, but the tax cost of living in the Golden State has always been high. The current top 13.3% rate, which is the same on ordinary income and capital gain, dates from 2012. In some ways, that high capital gain tax rate is even worse than the ordinary rate. If you are about to sell stock, your cash of bitcoin, your out of state real estate holdings, or settle a career lawsuit, you might want to move firs...
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