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  #1  
Old 09-12-2023, 01:46 PM
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CA has no estate tax. 0%
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Old 09-12-2023, 02:07 PM
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CA has no estate tax. 0%
I promise this isn't political, but...

I have a hard time believing it will stay that way forever. Of course, it's been that way for a while now, so maybe you'll get lucky.
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Old 09-12-2023, 02:15 PM
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I promise this isn't political, but...

I have a hard time believing it will stay that way forever. Of course, it's been that way for a while now, so maybe you'll get lucky.
I don't think it is going back. We have too many large ranches, orchards, vineyards and farms. At worst, we might go back into lock step with the Federal standard, which is pretty much what we do with similar taxes that have high thresholds.
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Old 09-12-2023, 02:36 PM
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What do ranches and orchards have to do with it, don't follow?
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Old 09-12-2023, 03:01 PM
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What do ranches and orchards have to do with it, don't follow?
They’re worth a lot of money and they’re usually family businesses, so they get passed down. And therefore it’s a hot button issue for estate taxes.
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Old 09-12-2023, 03:03 PM
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They’re worth a lot of money and they’re usually family businesses, so they get passed down. And therefore it’s a hot button issue for estate taxes.
OK. But not clear to me why those people would object more to estate taxes or have any more political clout than the countless other wealthy people in the state.
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Old 09-12-2023, 03:39 PM
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OK. But not clear to me why those people would object more to estate taxes or have any more political clout than the countless other wealthy people in the state.
My sense is that family farms have long been the poster child for the anti estate tax movement. It’s a very appealing approach optically, and no politician wants to be seen as being against farmers, small businesses and cute farm animals.
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Last edited by raulus; 09-12-2023 at 03:41 PM.
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Old 09-13-2023, 12:25 AM
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OK. But not clear to me why those people would object more to estate taxes or have any more political clout than the countless other wealthy people in the state.
Lots of people object to the retaxing of wealth in inheritance, but the problem with farms etc. is that they typically are worth a lot more than the cash flow generated and in death a high tax on estate transfer would force many/most to sell to pay the tax. Not a popular option for a long-time family business, and one that is perceived as a societal good.
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