The proposed measure is facing opposition from Gov. Gavin Newsom as some billionaires begin cutting ties with the state.

Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. California is no stranger to wildfires. Over many years, numerous ...

There are more than 200 billionaires in California. Now, Golden State labor leaders are pushing for tax on that wealth to help pay for education and Medicaid funding shortfalls. California lawmakers ...

The California Franchise Tax Board will refuse to treat newly created Trump Accounts as tax-deferred accounts for state tax purposes.

Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. California has long been the land of high taxes. Its top 13.3% ...

Invesco California Municipal Bond ETF (PWZ) yields 3.8% exempt from federal and California state taxes. PWZ’s tax exemption doubles after-tax returns for California residents in the 50%+ tax bracket.

Bernie Sanders supports it. Newsom has opposed it. Others say California's wealthiest will flee. What's going on?

Venture capitalist Chamath Palihapitiya says California’s proposed billionaire tax is accelerating an exodus of ultra-wealthy residents, a shift he argues will worsen and not solve the state’s budget ...

State income tax rates vary widely across the U.S. and can impact everything from your take-home pay to your long-term financial goals. State income tax is a tax levied by individual states on your ...