Business Insider featured insight from FBT Gibbons Partner Kristin Yokomoto in an article examining the proposed California wealth tax and the legal challenges that could arise if the measure passes.
Yokomoto, a private wealth and family office services attorney in the firm’s Newport Beach office, discussed potential arguments “about due process, the retroactive application of the tax, and the nature of the tax being applied to net worth rather than income.”
The article also notes questions around how the tax could apply to out-of-state assets and complex family or marital situations, including divorce.