A sale of an LLC or partnership interest can trigger a California tax notice even for a nonresident. The Franchise Tax Board has been pushing this, and winning cases.
California tax rates are up again, this time to 14.4%, while capital gains are taxed at 13.3%. The new 14.4% rate is on earnings, while all else is taxed at 13.3%.
When the Internal Revenue Service granted Californians an extension on 2022 taxes due to bad weather, Gov. Gavin Newsom (D-CA) was forced to guess how strong his state’s economy was and how much tax revenue the government would collect.
If you are in California for more than nine months, you are a resident, and more than six months usually does too. California often audits those who leave.