Florida once had a tax that was effectively a wealth tax.
It was assessed on the value of intangible assets (stocks, bonds, etc.) owned by the taxpayer on the first day of the year. It was fairly simple to plan around, so if you were rich enough to be subject to the tax, you were rich enough to avoid it. Eventually, the state got rid of it.
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In response to this post by Hoodafan)
Posted: 10/07/2019 at 3:52PM