Tech billionaires are making plans to bail on California ahead a possible ballot measure that would tax their assets to help pay for healthcare.
Sources told the New York Times that venture capitalist Peter Thiel has explored spending more time outside California and opening an office for his Los Angeles-based personal investment firm, Thiel Capital, in another state.
“Leave” as in claiming their primary residence is in Florida while spending all of their time in California.
Puerto Rico does it right. In order to claim primary residence there you have to physically be there for something like 180 days of the year without any travel. States need to do that too.
180 uninterrupted days or 180 total? I think my state does 181 total
there’s no method to track that for interstate travel…and we certainly don’t need to give more data to the police state.
as with almost all the rest of the US’s problems, the root cause is a half-assed federal system
I know Massachusetts has a law similar to this as well, though I don’t remember the details. I think it’s even something like you have to claim money that you make outside the state and taxes that you pay in other states so that the state can adjust your taxes accordingly. But there’s definitely something about needing to live there for at least 6 months or something in order to claim primary residency.
I live in a regional hub in a red area. All the people who live in the surrounding counties split their time between shitting on the “big city” and spending all their time here without paying any taxes
California is pretty strict about taxing you if you spend too much time there.
I’m in Washington state (no state income tax) and have had colleagues who’ve spent a lot of time in California warned by payroll that they’re approaching the limit on time before you’re deemed a tax resident (maybe 180 days per year, but I’m not sure).
In particular, any part of a day spent in California counts as a whole day, as I understand it. So if you fly in on Monday evening, spend Tuesday and Wednesday, then fly back Thursday morning, it’s 4 days.
In order for that to kick in, you need to be drawing salaried income, otherwise they have no means of tracking you. Salary is an insignificant component of most billionaires’ income.
i doubt he wants to be associated with florida right now, considering what happened to his sidepiece last year, involving windows. thiel is a creature of habit, he hates anything news that unravel his behaviour.
What happened in Florida related to Thiel?
thiel had a model boyfriend(sidepiece) in florida, whom he showered with gifts and what not, when the bf became concerned about thiels ANTI-LGBT agenda with conservatives, he mysteriously “fell” out of an apartment building after he voiced his concerned to thiel about it hurting the gay community. it barely made any news, but its not surprising since thiel love to suppress any bad news about him.
what was his name? I’m having a hard time finding any info about this
jeff thomas, type in google you see some reddit discussion about him, it was pretty messy. apparently it was also result of third wheel situation as well
I think Tennessee is the new hotness for tax free residency.