Ask HN: My company is being acquired. Should I move from CA to NV prior signing?
I just received a ~$1Million offer to purchase the IP of my tech company. My company is a Delaware C-Corp operating in California. The acquiring company is in Nevada and I'd relocate immediately so I can work as a part time consultant.
I am currently a CA resident and it seems unlikely that I could avoid paying CA income taxes on the proceeds just by getting a Nevada drivers license and renting an apartment prior to signing the agreement. But given the acquiring company is in NV and I do intend to move maybe it is a legitimate reason to not pay California income taxes. Any thoughts or general advice ? I don't have an accountant so any Bay Area CPA referrals are appreciated.
I am currently a CA resident and it seems unlikely that I could avoid paying CA income taxes on the proceeds just by getting a Nevada drivers license and renting an apartment prior to signing the agreement. But given the acquiring company is in NV and I do intend to move maybe it is a legitimate reason to not pay California income taxes. Any thoughts or general advice ? I don't have an accountant so any Bay Area CPA referrals are appreciated.