If California pays $1.2M in reparations payments per person, I wonder if they’ll make those payments tax exempt for state tax purposes. The Feds definitely won’t.
Almost $500K/person going to federal taxes. That would be an interesting use of state tax money.
Note: I don’t expect it to actually happen, but it’s interesting to think through the tax implications if it did. Would the state withhold federal taxes or leave it up to the taxpayers to handle paying their federal taxes properly? Those new IRS could end up being pretty busy. 🤣
BourbonicPlague / Bourbonic Plague
npub1zp…ckvjd
2023-05-07 18:47:47
Author Public Key
npub1zp9fuqdl487hmzvjqcmt7fdm9rcl5hhy5y3qr7k5vtahnjd4kt5sfckvjdPublished at
2023-05-07 18:47:47Event JSON
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"content": "If California pays $1.2M in reparations payments per person, I wonder if they’ll make those payments tax exempt for state tax purposes. The Feds definitely won’t.\n\nAlmost $500K/person going to federal taxes. That would be an interesting use of state tax money. \n\nNote: I don’t expect it to actually happen, but it’s interesting to think through the tax implications if it did. Would the state withhold federal taxes or leave it up to the taxpayers to handle paying their federal taxes properly? Those new IRS could end up being pretty busy. 🤣 ",
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