Does the law say anything about vacation homes? Most states say that to be a resident you must live 6 months and 1 day in the state. Cali could set the wealth tax to, if you have any property in the state and are a billionaire pay up.
That’s pretty easy to get around with shell companies. The homes could be setup as a members-only “hotel”, owned by a nonprofit entity, with the shareholders being the person’s family.
Does the law say anything about vacation homes? Most states say that to be a resident you must live 6 months and 1 day in the state. Cali could set the wealth tax to, if you have any property in the state and are a billionaire pay up.
That’s pretty easy to get around with shell companies. The homes could be setup as a members-only “hotel”, owned by a nonprofit entity, with the shareholders being the person’s family.
I like the idea, but this won’t get there.
Doesn’t mean we shouldn’t try