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What’s Inside California’s Proposed 2026 Billionaire Tax Act
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Subscribe17 NOV 2025 / ACCOUNTING & TAXES
California labor leaders have proposed the 2026 Billionaire Tax Act, which envisions a one-time 5% tax on the wealth of Californians worth more than $1 billion. This plan aims to bridge the gap in health care and education spending caused by federal cuts, but skepticism remains about the feasibility and repercussions of the act, including potential wealthy taxpayer migration.
Mark Zuckerberg probably didn’t pencil this into his 2026 planner. One minute you’re juggling a few metaverse goggles, the next the state you call home floats a one-time 5 percent tax on your net worth. Imagine opening your mail and seeing a bill with ten...
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