Because of asset seizures, I am starting my new company outside California
1–10 of 55 posts
Re: Because of asset seizures, I am starting my new company outside California
#2...in New York? I would consider that a jump from the fire into the frying pan.
Re: Because of asset seizures, I am starting my new company outside California
#3...in New York? I would consider that a jump from the fire into the frying pan.
Read the author's previous pieces-- very little logic, lots of California-hate.
The premise of this article, Prop 30, is nothing new. Rehashing of the same things (from the same author no less) must give PandoDaily some page views or something
Re: Because of asset seizures, I am starting my new company outside California
#4here is the relevant info i could find about the taxes/asset seizure the author is referring to:
"Proposition 30 creates three new upper income tax brackets for the next seven years. For example, folks with $250,000 to $300,000 a year in income will pay 10.3%, up from 9.3%. The new top income tax rate–for folks with income of $1 million-plus–will be 13.3%, up from a current top rate of 10.3%. That eclipses New Yorkers’ combined state and local top rate of 12.7% and Hawaii’s top rate of 11%. The income tax hikes are retroactive to Jan. 1, 2012, but the extra bill isn’t due until April 15, 2013. (See below for a photo gallery of the highest state and local income taxes on a $1 million income post election.)
Still, all Californians will be chipping in: Proposition 30 also raises the state sales tax from 7.25% to 7.5% for four years, starting Jan. 1, 2013."[1]
[1]: http://www.forbes.com/sites/ashleaebeling/2012/11/08/califor...
Re: Because of asset seizures, I am starting my new company outside California
#5...in New York? I would consider that a jump from the fire into the frying pan.
Seems an odd choice if just for the taxes. I would think Nevada or Colorado or even Oregon (my home state) would be better alternatives tax-wise, and yet still retain the "Startup community scene" to some extent.
I could see moving to New York if it were a finance or media company (sounds like it is a media company), so maybe that has a larger impact on location than tax alone.
Re: Because of asset seizures, I am starting my new company outside California
#6here is the relevant info i could find about the taxes/asset seizure the author is referring to: "Proposition 30 creates three new upper income tax brackets for the next seven years. For example, folks with $250,000 to $300,000 a year in income will pay 10.3%, up from 9.3%. The new top income tax rate–for folks with income of $1 million-plus–will be 13.3%, up from a current top rate of 10.3%. That eclipses New Yorker…
Income != Assets
His bio describes him as a "failed investment banker", so perhaps his lack of that kind of basic knowledge should come as no surprise.
This Proposition was passed back in November, yet somehow it appears to be news to the author.
Re: Because of asset seizures, I am starting my new company outside California
#7here is the relevant info i could find about the taxes/asset seizure the author is referring to: "Proposition 30 creates three new upper income tax brackets for the next seven years. For example, folks with $250,000 to $300,000 a year in income will pay 10.3%, up from 9.3%. The new top income tax rate–for folks with income of $1 million-plus–will be 13.3%, up from a current top rate of 10.3%. That eclipses New Yorker…
Income != Assets His bio describes him as a "failed investment banker", so perhaps his lack of that kind of basic knowledge should come as no surprise. This Proposition was passed back in November, yet somehow it appears to be news to the author.
i totally agree that it's a tax, not an asset seizure, but i was trying to remain neutral; since he referred to it as an asset forfeiture and CA referred to it as a tax I just put both and left it up to the reader to decide which it was.
Re: Because of asset seizures, I am starting my new company outside California
#8...in New York? I would consider that a jump from the fire into the frying pan.
Read the author's previous pieces-- very little logic, lots of California-hate. The premise of this article, Prop 30, is nothing new. Rehashing of the same things (from the same author no less) must give PandoDaily some page views or something
"Rehashing of the same things (from the same author no less) must give PandoDaily some page views or something"
PandoDaily is all about the page views.
Re: Because of asset seizures, I am starting my new company outside California
#9...in New York? I would consider that a jump from the fire into the frying pan.
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Re: Because of asset seizures, I am starting my new company outside California
#10here is the relevant info i could find about the taxes/asset seizure the author is referring to: "Proposition 30 creates three new upper income tax brackets for the next seven years. For example, folks with $250,000 to $300,000 a year in income will pay 10.3%, up from 9.3%. The new top income tax rate–for folks with income of $1 million-plus–will be 13.3%, up from a current top rate of 10.3%. That eclipses New Yorker…
It should be noted that these tax rates are marginal. Effective state income tax rates are typically much, much lower.