California: State starts withholding taxes on sale of vacation property

The San Jose Mercury News ^ | Sat, Jan. 18, 2003 | Sue McAllister Mercury News

[SierraWasp]

I hate to admit my ability to misunderstand something, but when someone posted an article about this between Christmas and New Years Eve, I thought it sounded like it was going to be applied to ALL R.E. transactions, including one's primary residence.

I'm releaved ta hear it's only on investment and non-primary residential property. Hay! Davis signed this POS and what would have stopped him from signing what I mistakenly thought this was?

[Grampa Dave]

We had two stories ciculationg here and in the state.

One was that there would be taxes on the sale of vacation properties, and the other was old men like you and I read here on FR, that all properties would be taxed.

Maybe we should wait and see what happens.

[Grampa Dave]

God grant me the senility to forget the people I never liked anyway, the good fortune to run into the ones I do, and the eyesight to tell the difference.

Now that I'm 'older' (but refuse to grow up), here's what I've discovered:

1. started out with nothing, and I still have most of it.


2. My wild oats have turned into prunes and All Bran.

3. I finally got my head together; now my body is falling apart.

4. Funny, I don't remember being absent minded...

4. Funny, I don't remember being absent minded...

5. All reports are in; life is now officially unfair.

6. If all is not lost, where is it?

7. It is easier to get older than it is to get wiser.

8. Some days you're the dog; some days you're the hydrant.

9. I wish the buck stopped here; I sure could use a few...

10. Kids in the back seat cause accidents.

11. Accidents in the back seat cause kids.

12. It's hard to make a comeback when you haven't been anywhere.

13. The only time the world beats a path to your door is when you're in the bathroom.


14. If God wanted me to touch my toes, he would have put them on my knees.

15. When I'm finally holding all the cards, why does everyone decide to play chess?

16. It's not hard to meet expenses... they're everywhere.

17. The only difference between a rut and a grave is the depth.

18. These days, I spend a lot of time thinking about the hereafter .. I go somewhere to get something and then wonder what I'm here after.

19. I AM UNABLE TO REMEMBER IF I HAVE MAILED THIS TO YOU OR NOT!

20. Funny, I don't remember being, . . . absent minded...

Now I think you're supposed to send this to 5 or 6, maybe 10, oh send it to a bunch of your friends if you can remember who they are.

Then something is supposed to happen, I think. Maybe you get your memory back

[TenthAmendmentChampion]

This article was interesting! I've wondered for years how poor people can afford to live in Los Angeles. My family's income is well above the median and we can't afford to live there!

[SierraWasp]

"This ain't your forefathers America"

Hay!!! I think that there qualifies for "Quote of the Year," so far!!!

[FITZ]

Californians elected democrats so they pretty much can expect more of this kind of thing. The democrats owe their voters something for their votes and it will be more taxpayer money. Hopefully Perry will stand firm here in Texas about not raising taxes and our handout class will get wise and move to California instead.

[Grampa Dave]

Thanks to one of the republican congresses under the Clintoon, the taxation that you cited is now against the law as this was in one of their tax reform bills passed.

However, before this happened we had friends who went to Oregon, Arizona, and Florida. California taxed their pensions and any withdrawals from their IRAs and 401ks. The tax suckers didn't back down with they were threatened by law suits.

[Happy2BMe]

" My family's income is well above the median and we can't afford to live there!"

We lived in Redlands ("The Little Palm Springs") from '89 to '92.

Financially, we could afford to live there.

Realistically, my kids stood a good chance of being killed on the way to school from uncontrollable gang activity.

Very sad.

[Ernest_at_the_Beach]

Good one!

[Dog Gone]

California has no qualms in taxing pension income that was earned by someone working in another state who decides to move to California to retire.

Assuming, of course, that anyone would be dumb enough to do that...

[SierraWasp]

Yeah, but... What us ol guys lack in physical agility and short term memory, we make up for in guile, cunning and treachery!!!

Oh... and I fergot! LETCHERY!!!

[Grampa Dave]

What did you just post? I forgot what you said?

[Lockbox]

One was that there would be taxes on the sale of vacation properties, and the other was old men like you and I read here on FR, that all properties would be taxed.

They have to start somewhere, all real estate sales could be next. Then California could tax anyone’s income that had visited the state, or eaten food grown in the state, or watched a movie made in the state. When the search for taxes starts, it looks like there’s no bank account safe.

[Paleo Conservative]

They have to start somewhere, all real estate sales could be next. Then California could tax anyone’s income that had visited the state, or eaten food grown in the state, or watched a movie made in the state. When the search for taxes starts, it looks like there’s no bank account safe.

This could be good for Texas. Lots of entrepeneurs could leave California and move their businesses to Texas.

[SierraWasp]

You talkin to me?

[PatrioticAmerican]

Commie liberals always get in deeper. Seems their budget crunch is about to implode the state.

[Grampa Dave]

You talkin to me? Who is the me that you, whomever you are, is talking about?

[SierraWasp]

Huh?

Hay! Why ain'tchew out fishin with yer fly on Putah Creek? Yew do remmer what a sucker yew are fer fission, don'tcha???

[Lockbox]

California, the birthplace of many trends, is the birthplace of the latest trend. Tax-Migration. Taxpayers are moving from a high tax rate state to the low tax rate state. Once critical mass is reached, the Government will experience the dreaded "China Syndrome”. California will turn into China. Millions of people wanting Government services, but no one to pay for the services. The California Government will escalate the taxes on people’s wealth until the people are either broke or leave. Then there will be no source of funds left to pay for the government services promised by the socialists. Next will be the sound of California imploding, bankrupt, unable to service the debt, unable to fund promised services.

Hopefully the other 49 States will learn from California’s experiment in socialism. If not, the watch for the “Chine Syndrome” to come to your State.