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CPA Practice Advisor · Dec 30, 2025

Will Billionaires Really Leave California? Why Wealth Tax Backers Aren’t Worried

Tax Brief summary and classification of the original reporting.

Bottom Line

💡 Will Billionaires Really Leave California? Why Wealth Tax Backers Aren’t Worried. General industry update.

Summary

If passed by California voters in November 2026, the measure would impose a one-time tax of 5% on individuals with assets worth $1 billion or more.

Classification

Category: backgroundPriority: informationalReason: General tax news

Deadline

november

Applies To

1040state

Affected Groups

Individual return preparers, State and local tax specialists

Original Source

We aggregate public tax updates and provide AI-assisted summaries. Please read the original reporting for full details.

Read original article