[ April 13, 2026 ]
Progressive California lawmakers introduced a bill last week that would impose a new annual tax on wealthy residents, even if they flee the state, Fox News Digital reported.
Think you can flee these brutal communist city/states? Not so fast….
The legislation, proposed by Assemblyman Alex Lee (D) and sponsored by nine other state Democrats, would require California residents with a “worldwide net worth” above $1 billion to pay an additional 1.5% yearly tax beginning in January 2024. As early as 2026, the tax threshold could drop to $50 million with an imposed 1% annual tax.
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California Introduces Wealth Tax Forcing People to Pay Years After They Leave State
Fox News: California lawmakers are pushing legislation that would impose a new tax on the state’s wealthiest residents — even if they’ve already moved to another part of the country. Assemblyman Alex Lee, a progressive Democrat, last week introduced a bill in the California State Legislature that would impose an extra annual 1.5% tax on those with a “worldwide net worth” above $1 billion, starting as early as January 2024 (Fox News). Just the News: The tax will apply to every resident, regardless of whether they are in the state part-time or temporarily. It will also allow the state to pursue wealth taxes from former residents who built their wealth in California but moved. For those who move out of state and do not plan on returning, the wealth tax will be slowly decreased over several years “based on the percentage of days in the year the taxpayer was present in the state, plus the years of residence over the three previous taxable years,” the bill states (Just the News).
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