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The wealth taxes and high net worth individual taxes rolling out today.🧵#statetax
1. California: a two-tier wealth tax on the worldwide wealth (tangible and intangible, financial and non-financial) of high net worth individuals (1% > $50 million, 1.5% > $1 billion). #caleg #capolitics #wealthtax
2. Connecticut: a surtax of up to 20% on capital gains income for the highest earners, plus a higher CIT and a digital advertising tax. #ctpolitics #ctleg #wealthtax
