The tax is based on the fraction of time spent in CA, both days and years. The intent (for years) is likely to avoid people striking it rich in startups/movies/etc, and then immediately leaving the state to avoid a tax on the windfall. The intent (for days) is probably to avoid a high net worth CEO "moving" to a close state and flying in frequently to conduct an in-state business. I don't know many working people who spend 60 days/year on vacation :-)
"... percentage of days in the year such taxpayer was present"
"... the portion of a taxpayer’s wealth subject to the tax imposed by this part shall be multiplied by a fraction, the numerator of which shall be years of residence in California over the 10 last years, and the denominator of which shall be 10"
So taking a contrived example of someone most affected who visited for the briefest of 60 day visits one time in 10 years, we would have 60/365 * 1/10 * 0.4% = .006%/yr tax. That seems pretty reasonable for a CEO/movie-star/whatever who visits (most likely to earn more money based on in-state activities). Even over the ten year period this amounts to 0.06% which is TINY. For someone with $100M net worth, over ten years it would amount to $42K of state tax (note that the first $30M is not taxed).
From the bill itself: http://leginfo.legislature.ca.gov/faces/billTextClient.xhtml...
"... percentage of days in the year such taxpayer was present"
"... the portion of a taxpayer’s wealth subject to the tax imposed by this part shall be multiplied by a fraction, the numerator of which shall be years of residence in California over the 10 last years, and the denominator of which shall be 10"
So taking a contrived example of someone most affected who visited for the briefest of 60 day visits one time in 10 years, we would have 60/365 * 1/10 * 0.4% = .006%/yr tax. That seems pretty reasonable for a CEO/movie-star/whatever who visits (most likely to earn more money based on in-state activities). Even over the ten year period this amounts to 0.06% which is TINY. For someone with $100M net worth, over ten years it would amount to $42K of state tax (note that the first $30M is not taxed).