Rhetorical question? Perhaps, for surely everyone does. But increasingly, successful people are taking a harder look at residency. The notion that a moneyed Californian would even consider it provokes outrage among some. Remember the public reaction to Phil Mickelson’s remarks?The question whether “making it” in California requires staying and paying may be a debate with no answer. Yet the tax laws recognize it has always occurred state to state and even country to country. Moreover, the income tax is uniformly an annual reckoning. This fundamental fact about income taxes itself belies the notion that one cannot earn, pay tax and leave before paying more.
via With California Taxes…..Who Wants To Be A Millionaire? – Forbes.
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