Msg. 39424 of 60014 (This msg. is a reply to
39422 by
Decomposed)
Jump:
Hi De,
I have clients in California and non-California clients who are doing business in California. Obviously, you have to file a California return if you are a resident or earn California-sourced income, BUT if neither are applicable to you, then you have no income tax filing requirement there. Now, I realize this proposed tax is a "wealth tax," rather than an income tax, BUT if you do NOT have current residency, NO California-sourced income, and NO property located in California (real estate, tangible personal property, cash, etc.), then you should have no nexus that would create a tax responsibility with the State of California. Also, practically speaking, California is going to find it VERY difficult to go after former residents who have completely divested and disassociated themselves from the State of California - because they now live outside of California jurisdiction and have no property inside the state that they can go after. For those wealthy individuals who have not yet completely divested and disassociated themselves from California, this proposed "wealth tax" should give them the impetus to do so, forthwith. Once that is accomplished, you should be able to tell California to stuff it where the sun don't shine.
B.
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