More lunacy from California Lawmakers

Chuckie

Sharpshooter
Supporting Member
Special Hen Supporter
Joined
Jun 23, 2017
Messages
1,903
Reaction score
2,406
Location
Midwest City, Oklahoma, 73110
I'm pretty sure it can't be legal to tax someone that is no longer a resident of the state.
Wouldn't be too sure about that. The Feds tax people that are no longer residents of the United States. It's become such a headache that some overseas banks will no longer open accounts for United States expats.
 

Glocktogo

Sharpshooter
Supporting Member
Special Hen Supporter
Joined
Jan 12, 2007
Messages
28,118
Reaction score
11,748
Location
Collinsville
Wouldn't be too sure about that. The Feds tax people that are no longer residents of the United States. It's become such a headache that some overseas banks will no longer open accounts for United States expats.
Their premise is that expats still enjoy US protections and services, as well as the ability to vote in US elections by absentee ballot. That sidesteps the taxation without representation issue.
 

WoodsCraft

Sharpshooter
Special Hen
Joined
Nov 18, 2022
Messages
430
Reaction score
839
Location
Oklahoma
Wouldn't be too sure about that. The Feds tax people that are no longer residents of the United States. It's become such a headache that some overseas banks will no longer open accounts for United States expats.

I lived and worked as an Expat for a long time and you actually don't pay taxes on a pretty large chunk of income as long as you are out of the country for 330 days at a time. When I worked overseas it was something to the tune of the first 80k and the figure changes with inflation I do not know what it is now but it can greatly reduce the tax burden of someone who lives and works OCONUS .


As for off shore accounts it depends on the country you are in but most I lived in would give Expats an account they have KYC compliance like US banks do at this point.
 

Latest posts

Top Bottom