Tax
Aug. 29, 2023
Can you avoid California tax without moving? Not anymore
Done carefully and with the right kind of income, properly moving out of California can reduce or eliminate the sting of California’s top 13.3% tax rate. Moving to avoid California taxes can be tricky. But fancy trusts to avoid California taxes without moving no longer work.
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.
It is no secret that many people look for ways to avoid paying California taxes by moving out of state, usually shortly before a major income event. They don’t always move to no-tax states like Nevada, Texas, Wyoming, Florida, and so on. But those tax havens are the usual suspects when Californians have tax wanderlust.
The state income tax they are trying to avoid might be triggered by the sale of a company or the settlement of a big laws...
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