Just when you thought you have seen it all from our resident jester Paul McCauley, he will prove you wrong.
While reading the informative Sacramento Bee "State Worker" blog, I came across Jon Ortiz' reporting of the latest shot in Mr. McCauley's war on retirees. The Secretary of State has entitled it "Tax on Pension Distributions and Health Care Benefits." It can be found by CLICKING HERE.
In the body of the text is the following statement that California "May impose a one-time, additional tax on non-California residents whose pension benefits exceed $50,000 in a year, and who earned income in California." This sounds very good if it weren't for the fact that it VIOLATES FEDERAL LAW and, in so doing, will necessitate a costly and losing Federal court battle by California to force it on non-resident retirees of California. Why doesn't Paul McCauley, being the Certified Public Accountant that he is, know this?
On January 10, 1996, Legislation restricting the States' right to tax nonresident pension income was signed into law by President Clinton. This was known as the "Pension Source Act" or HR 394, now PL 104-95.
"This law prohibits states from taxing the pensions of non-residents. A retiree can receive pension income, including withdrawals from IRAs and other retirement accounts, without being taxed by their previous state of residence."
More on this law can be viewed by CLICKING HERE.
As if California doesn't have enough financial problems, now McCauley wants to embroil the State in costly lawsuits to nowhere.
Obviously Mr. McCauley has lost his mind. If you find it please return it to his last reported place of employment:
While reading the informative Sacramento Bee "State Worker" blog, I came across Jon Ortiz' reporting of the latest shot in Mr. McCauley's war on retirees. The Secretary of State has entitled it "Tax on Pension Distributions and Health Care Benefits." It can be found by CLICKING HERE.
In the body of the text is the following statement that California "May impose a one-time, additional tax on non-California residents whose pension benefits exceed $50,000 in a year, and who earned income in California." This sounds very good if it weren't for the fact that it VIOLATES FEDERAL LAW and, in so doing, will necessitate a costly and losing Federal court battle by California to force it on non-resident retirees of California. Why doesn't Paul McCauley, being the Certified Public Accountant that he is, know this?
On January 10, 1996, Legislation restricting the States' right to tax nonresident pension income was signed into law by President Clinton. This was known as the "Pension Source Act" or HR 394, now PL 104-95.
"This law prohibits states from taxing the pensions of non-residents. A retiree can receive pension income, including withdrawals from IRAs and other retirement accounts, without being taxed by their previous state of residence."
More on this law can be viewed by CLICKING HERE.
As if California doesn't have enough financial problems, now McCauley wants to embroil the State in costly lawsuits to nowhere.
Obviously Mr. McCauley has lost his mind. If you find it please return it to his last reported place of employment:
Sheet Metal Workers' Union, Local 105
2120 Auto Centre Dr.
Glendora, CA 91740
(909) 305-2800 - Main Office
(909) 305-2822 - Fax
1 comment:
This is incredible! I can't believe that this jerk works for a labor union.
He doesn't seem to like working men and women very much, perhaps the Sheet Metal Workers Local should discontinue his services since he is willing to sell out working men and women for his self-serving political aspirations.
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