alt Hacker NewsNo wealthy person is going to save money by relocating from California to avoid a $30-40k tax bill on an exotic car. Wealthy people have a beach house in California because they like California.
The people who relocate to avoid taxes are upper-middle class people who are overextended on their finances.
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paustint • today at 12:52 AM
Disagree - wealthy people don't become wealthy by giving all their money to the government. Expensive cars generally retain a decent value, but the taxes paid evaporate.
Many people don't relocate, but instead try to figure out a way to save a bunch of money on a large purchase - why pay more if it can be avoided?
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Well they go through the trouble to form an LLC in Montana to own the car, to (illegally) avoid that tax bill. So clearly the tax isn't something they are just happy to pay. The LLC probably owns the beach house too, for some other tax dodge.