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The California billionaire tax is headed to the ballot. The ultrawealthy are bracing for what comes next.

The proposed California billionaire tax is moving forward, with plans to appear on the November ballot.

Source Business Insider AI Summary Updated 1h 53m ago

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The proposed California billionaire tax is moving forward, with plans to appear on the November ballot. This development has prompted wealthy individuals to prepare for potential legal challenges. The tax, which targets high-net-worth individuals, is expected to face opposition from those who will be affected by it. As a result, they are taking steps to prepare for a possible ballot fight and potential legal disputes. The outcome of this tax proposal will be closely watched, particularly by those who will be subject to it.

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