New York Times: California Billionaire Tax Has Signatures Needed for Ballot

In this presentation, attorney and CPA Chad D. Cummings breaks down the latest development in California’s aggressive tax policies: the proposed Billionaire Tax has gathered enough signatures to appear on the ballot. This new wealth tax would impose a significant one-time levy on individuals worth more than one billion dollars and is expected to accelerate the already rapid exodus of high-net-worth individuals and businesses from the state. Chad explains the real impact this will have on California business owners and high-income earners, including increased pressure on pass-through entities and the growing risk of future tax hikes. Most importantly, he shows why redomestication is the cleanest, most efficient, and tax-efficient way to move your existing LLC, corporation, or partnership out of California to a lower-tax state like Florida or Texas—without dissolving your company, without forming a new entity, without losing your FEIN, and without triggering federal taxes. If you own a business in California and are concerned about the state’s continued tax aggression, this presentation gives you the critical information and practical solution you need. Learn more: https://www.cummings.law/redomestication/