Another reason why California is spiraling out of control is because of this:
The California Exit Tax
The implementation of the California exit tax further exacerbates the situation. Individuals and businesses seeking to relocate outside the state are now burdened with a one-time tax based on the value of their assets, including property and investments. This punitive measure not only discourages migration but also imposes hefty financial penalties on those seeking to escape California’s taxing environment.
California Will No Longer Let You Leave: New Wealth and EXIT Tax
The California Exit Tax
The implementation of the California exit tax further exacerbates the situation. Individuals and businesses seeking to relocate outside the state are now burdened with a one-time tax based on the value of their assets, including property and investments. This punitive measure not only discourages migration but also imposes hefty financial penalties on those seeking to escape California’s taxing environment.
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