Tax
Wealth and Asset Management
A 5% wealth tax? Preparing clients for California’s Billionaire Tax
The proposed 2026 Billionaire Tax Act, which will appear as Proposition 40 on California’s Nov. 3, 2026, ballot, would, if approved, impose a onetime excise tax of up to 5% on the net worth of certain individuals and trusts that have assets of at least $1 billion as of Dec….
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