[sneak]

States have the ability to render “foreign” (out of state) entities unable to enforce contracts in their state.

They can also issue tax warrants that can seize your out of state entity’s money from an out of state bank account.

These are commonly issued without any burden of proof and banks are legally required to obey them, so it allows any tax authority in any state to rob your account at any time without any evidence of wrongdoing.

This happened to me once; the state of Indiana whole-cloth fabricated nonexistent tax liability because I didn’t file a form with them, and stole all of the money I had in the world out of my Chase bank account in New York. I almost lost my home. Every claim they made was fictitious. Chase charged me $150 or so on top for carrying out the robbery.

Months later, after spending dozens of hours on the phone and filing many forms, I got most of the money back, less $700 or so in “collection fees” (printing and mailing letters is apparently extremely expensive in Indiana), and of course the bank fees.

Now I don’t keep money in banks.