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California was once known as the destination for anyone seeking a fortune, from the Gold Rush to Hollywood. The image of a line of wagon trains heading West has now been replaced by a line of U-Hauls heading anywhere but California. Unable to stem the exodus, California is again toying with retroactive taxes — targeting the wealthy regardless of whether they flee the state. Welcome to Hotel California, “you can check out any time you like, but you can never leave.”California democrats have long faced the same dilemma of constantly tapping the wealthy to cover their deficit spending: these individuals and their wealth are mobile. They can simply leave and many are doing so. We recently discussed how California is now losing a taxpayer every minute.

Previously, the state moved to tax people who left the state. Now, the state is seeking a billionaire tax and making it retroactive. Thus, even if you were waiting to decide to leave, it is too late. You are being taxed for the prior year.

> California was once known as the destination for anyone seeking a fortune, from the Gold Rush to Hollywood. The image of a line of wagon trains heading West has now been replaced by a line of U-Hauls heading anywhere but California. Unable to stem the exodus, California is again toying with retroactive taxes — targeting the wealthy regardless of whether they flee the state. Welcome to Hotel California, “you can check out any time you like, but you can never leave.”California democrats have long faced the same dilemma of constantly tapping the wealthy to cover their deficit spending: these individuals and their wealth are mobile. They can simply leave and many are doing so. We recently discussed how California is now losing a taxpayer every minute. > Previously, the state moved to tax people who left the state. Now, the state is seeking a billionaire tax and making it retroactive. Thus, even if you were waiting to decide to leave, it is too late. You are being taxed for the prior year.
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[–] • 0 pt

Jesery has exit taxes. You don't show you bought another house in jersey, they ass fuck you to the wall. I'd tell them to come get me.

[–] • 1 pt

NY and NJ both have exit taxes on the profit made on a home sale, and this year NJ just increased the rate. I'm not sure of the cutoff line, but if you make X amount of profit on a sale and don't buy a new one in NJ, you are hit with a pretty hefty tax bill.

[–] • 0 pt

Guess if you don't pay (likely you have to in closing), but if you don't they will whistlingdiesel you

[–] • 1 pt

Guess if you don't pay (likely you have to in closing),

Yep. From what I've heard it's all included in the closing process. A total scam.