Exit tax in California?? (money, time, about)

[00molavi]

Originally Posted by Curmudgeon

Let's put it this way. If they don't charge illegal aliens a toll for coming in they can hardly charge you a tax for going out!

There are a lot of stuff that illegal immigrants get away with, don't expect to get that kind of break if you are legal!

[BennyPhoenix]

Originally Posted by EscapeCalifornia

Wouldn't that be unconstitutional?

Not if it's done correctly.
New Jersey has an exit tax, but to do it constitutionally it can only be applied to property owners that sell their property and leave the state within a certain time period.

[kettlepot]

California does have a property transfer tax when you sell your real estate. I believe it's something like .11% of the value of the property (or $110/100k). However, it applies whether you stay in the state or leave, so it isn't an exit tax, just a property transfer tax.

[BennyPhoenix]

Originally Posted by kettlepot

California does have a property transfer tax when you sell your real estate. I believe it's something like .11% of the value of the property (or $110/100k). However, it applies whether you stay in the state or leave, so it isn't an exit tax, just a property transfer tax.

NJ has that but they also have an additional tax that is set up for those who leave the state.
Personally, If I lived in NJ I'd pay any price to leave.

[MotleyCrew]

We built 7 speculative homes in northern CA before we left for AZ and every one of them we paid an extra tax of 3% of the entire sales price. You have to prove at the end of the year that you did not make enough money to get a refund. The state held your money all year until you did your tax return. What did the government do with all this money during the boom years when homes were being built at record pace? They squandered it I would guess.

[Soccersupporter]

Originally Posted by MissDaisy

Hello

We will be moving soon ( we hope ) from California (where we haved lived our entire lives) to Texas

Does anyone know if California charges an "exit tax" when moving to another state??

Thanks

No. We moved from CA to TX. The first year I had no income in CA was the greatest. Having no state income tax is great. Paying capital gains was ......

[jopes]

Originally Posted by EscapeCalifornia

Except they don't have Pedro's social security number.

no but I am sure he has someone else's....

[Happy Cells]

hey...I've got an impacted exit tax...


here chal..iporn....eyah....pull my finger....

[DMenscha]

Originally Posted by kettlepot

California does have a property transfer tax when you sell your real estate. I believe it's something like .11% of the value of the property (or $110/100k). However, it applies whether you stay in the state or leave, so it isn't an exit tax, just a property transfer tax.

It's actually a property transfer tax imposed by the individual counties. The rate varies slightly from county to county.

[DMenscha]

Originally Posted by MotleyCrew

We built 7 speculative homes in northern CA before we left for AZ and every one of them we paid an extra tax of 3% of the entire sales price. You have to prove at the end of the year that you did not make enough money to get a refund. The state held your money all year until you did your tax return. What did the government do with all this money during the boom years when homes were being built at record pace? They squandered it I would guess.

You didn't pay an "extra" tax, you had 3% withheld pending filing of your income tax for the period(s) in question based on all of your income.