Report: Professors Behind California's Wealth Tax Threaten Lawsuit Against Critic [CA Wealth Tax]

Attorney and CPA Chad D. Cummings reviews the California wealth tax ballot measure and the recent cease-and-desist letters sent by its authors to a critic. We discuss how the proposal, marketed as a one-time tax on billionaires, has already driven departures of significant wealth and income tax revenue, and how the authors have responded to criticism with legal threats rather than substantive debate. We also cover the broader implications for California business owners, including the risk of expanding wealth taxes and the importance of redomestication as a strategic tool to protect your company. Redomestication transfers your entity’s domicile to another state without dissolution and without federal income tax consequences when performed correctly, preserving your FEIN, contracts, credit history, and bank accounts. Learn more: https://www.cummings.law/redomestication/