California State Estate Tax: Dead in the Water
If you recall, I wrote a blog post back in May regarding a proposed California State Estate Tax. SB 378 was introduced in March of this year and if passed in the State Legislature, it would have appeared on the 2020 ballot. In September, the bill was scrapped completely and replaced with proposed legislation having to do with public utilities. SB 378 is still a proposed bill, but now has nothing to do with the Estate Tax. I emailed Senator Wiener's office (author of the bill) for more information and received the following response:
"We have decided not to move forward with the proposed estate tax legislation. The bill has been significantly amended to address a different policy altogether. I highly doubt we will resurrect the estate tax legislation in another form next year at all."
Given the lack of support for a State Estate Tax among California legislators, I too doubt we will see anything on this topic anytime soon. Let me know if you have any questions!