Billionaires who fled California wealth tax risk intrusive residency audit

🇺🇸 Financial Times (US) —

AI Summary

California billionaires who relocated to avoid state wealth taxes face the risk of intrusive residency audits due to the state's aggressive enforcement history. This highlights tensions between wealthy individuals and tax authorities.

State has a history of aggressively pursuing rich individuals who claim to have relocated to low-tax jurisdictions

Politics Markets California wealth tax billionaires tax audits residency enforcement tax policy

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