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Tax

Dec. 18, 2025

California considers 5% wealth tax on billionaires

California has long flirted with a wealth tax, but a new ballot measure targeting the state's billionaires could finally break through where past efforts have failed.

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

www.woodLLP.com

Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.

See more...

California considers 5% wealth tax on billionaires
Shutterstock

California has long been the land of high taxes. Its top 13.3% income tax does not distinguish between ordinary income and capital gain. The top 13.3% tax can even grow to 14.4% in some cases. The top California income tax rate h...

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