Quote from @Dave Hagen:
California mandated that the electric companies move to solar and wind, leaving little money for maintenance, then blame the companies when their poorly maintained power lines spark fires. As if power companies need incentive to avoid maintenance before infrastructure fails.
And California has continued reducing forestry maintenance until they have now completely defunded it. The forestry service said that they weren't able to do 10% of the maintenance needed, like clearing out dead undergrowth, making fire breaks, or controlled burns. And since they are anti-logging, there are no areas being cleared and replanted, or paths created to remote areas, making firefighting even more difficult.
Strange, since cutting down trees for use in products is a great way to capture carbon and make areas available for new growth to capture more carbon. And why do they wait to call in the aircraft that can dump liquids on a fire, until they are out of control? Are they trying to maximize the damage fires cause, so they can blame "Climate Change" for the decisions they make?
Insurance companies are raising prices due to the increases in disasters, then leaving when California and others try to limit their increases. They claim the insurance companies are greedy, but if they don't cover their losses, they will go out of business.
Politics shouldn't invade every aspect of our lives, and it is sad that we need to spend so much time talking about it, but unless we push back, it will continue.
I wonder if California would remain blue, if voter ID was mandated.
Good luck in California, when they finally pass laws that all but prohibit evictions, labeled as renter's rights.
I'm not sure what California's response to a large fire has to do with a question about paying taxes for an out of state rental in a California LLC, but okay.
On topic, most states make LLCs formed inside their jurisdiction pay taxes on out of state rentals. However, some states, such as Illinois, have pass through taxation where the LLC itself does not pay income tax on its earnings. The income is passed through to the LLC's owners and is required to be reported on their individual income tax returns. California has an $800 minimum tax on LLCs which is different from many states. So whether or not you do any business in the LLC, you have to pay $800 every year to keep the LLC active. I'm not sure about the details of the Wyoming Statutory Trust, but I'm pretty sure you still have to pay the $800, because that fee is on the LLC, not on the assets within the LLC.
As for the half-truths & regurgitated right wing propaganda spurred on by the name "California":
- California power companies are subsidized by the government to invest in solar and wind energy. The mandated ventures into alternative energy is not coming out of their pocket. There are various programs and incentives to encourage the growth of renewable energy, including financial support for utility-scale solar and wind projects, community solar initiatives, and programs to promote Net Energy Metering. Between the subsidies and their ever increasing rates, I'm pretty sure that power companies should be able to cover basic maintenance.
- The California Forestry department (Calfire) is in charge of 31 million acres of privately owned land. They do not patrol the suburban areas where the most devastating fires occur, because those are suburban neighborhoods and not forests. The state of California is an enormous area with vast forests. The Sierra Mountains alone are larger in size than many smaller states, not to mention the San Gabriel, Santa Monica Mountains, etc... To suggest that the Forests could be maintained better, and then there would be less fire is silly. I camp regularly in the forests of California. The roads are well maintained. The forest floors are mostly unmanageable and follow the natural destruction/rejuvenation patterns of nature. If you swept a hundred yards of droppings on a forest floor, by the time you got to the 50th yard you would see new droppings behind you. Do you realize the manpower that would be required to continually "rake the forest floors" as some have suggested? Seriously? There are millions of acres to cover. First of all, that would require taxing and spending, now wouldn't it? And to suggest that maybe they would be in better shape if the state went Red? You think the Republicans, the party of limited government, will raise taxes and hire the enormous amount of manpower required to go over every inch of the forests every day? Get real. It's funny, there is never any talk about Government incompetence in the news when there are wild fires in Wyoming, Arizona or Montana, states which coincidentally also don't rake their forests, because they, like California, also understand things and perceive reality.
- Lost in all the finger pointing and political football throwing after the LA fires, was the fact that it hadn't rained in 8 months and the winds in the canyon areas were 70-100 mph. For those who don't know, LA is dry. It's basically a desert - kind of an important detail. After 8 months without rain, the areas in the canyons were one big tinder box. There was going to be a fire somewhere no matter who was in office. Why did they wait so long to drop water from the air then? Well, helicopters don't exactly perform well in high winds and the military planes that carry larger water loads are an hour away, so even if the planes were summoned the second the first fire started, they wouldn't get there in time to prevent a large spreading, and those planes do not perform well in 100mph winds either. Sorry, I don't think aircraft crashing into the hillside & exploding was the firefighting technique needed at that moment. Fire professionals agree as well. Imagine being a hard working fireman who worked his or her *** off for an entire week in life threatening conditions in a drought ridden desert listening or reading something from someone who lives in an area so humid that it's hard to light a grill without 4 ounces of lighter fluid, talking about how he and his coworkers didn't do enough and they let the fire go, because somebody wanted to further a global warming agenda. Ridiculous.
"Politics shouldn't invade every aspect of our lives, and it is sad that we need to spend so much time talking about it, but unless we push back, it will continue."
- ^^^^^ Hiliarious. The guy who goes on an unprovoked diatribe about the democratic leadership in California's response to wild fires responding to a post about LLC tax laws thinks politics shouldn't invade every aspect of our lives. You answered no questions for the original post and then make a laundry list of things Fox News told you to think about.
Tired of reading "California hate" posts on bigger pockets. I agree, the landlord laws here suck. And there are many other problems, but with any heavily populated state there will be more problems. We have more of everything here. More criminals, more tax cheats, Doctors, Lawyers, janitors etc... People love to talk about how oppressive the California government is and how difficult it is to do business here. But, if that's true, why does the state of California have a GDP that is ranked #5 in the world?
1. U.S
2. China
3. Germany
4. Japan
5. California (if it was a country)
It's true. Look it up. The right wing narrative that all these blue states are a bunch of lazy do nothings who just want to sponge off of the government doesn't really align with economic reality does it? How does a state that is heavily taxed with an oppressive, hard to work with government that is full of lazy do nothings outproduce every state in the country? Hmm. Maybe the millionaire "news anchors" on TV that are paid by the billionaires (many of whom are invested in fossil fuels) who own their stations aren't telling the whole story? No. That couldn't be! Billionaires always seek the truth at the expense of their own self interest. Everybody knows that. Ha. Ahem.
When I first read the GDP stat I assumed that California's high ranking was because of it's size, but then I looked up GDP per capita and California is routinely ranked in the Top 5 GDP per capita in the country as well. And as of 2023 the first 6 GDP per capita states/districts were:
1. D.C
2. New York
3. Massachusetts
4. Washington
5. California
6. Connecticut
That's odd, isn't it? States with heavy taxes & regulations at the top of the list. If anything, it proves that you can legislate environmental regulations, restrictive workplace safety initiatives and still have a productive workforce. The two realities are not as mutually exclusive as some would like us to believe.
One final note - imagine the GDP ranking scores if California wasn't so "burdened" by government? How much further would it dwarf the productivity of the red states? The difference would be laughable. What's the matter red states? All those tax breaks and you still can't outproduce "Marxist California"? Sad.
Be better red states. Be better.
- Happy investing from a California capitalist!
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