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by ashwindharne 59 days ago
I believe it's calculated based on voting equity, of which Sergey owns significantly more than 230b.
2 comments
anamax 59 days ago
The "tax based on control" clause (quoted below) doesn't apply to public companies.
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VirusNewbie 58 days ago
Yes it does, it applies to any ownership of shares that are not traded on the public exchange. This means the shares the Google founders have, or Zuck, or the owner of SNAP, or any number of large companies founders would have to sell a significant portion.
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wbronitsky 59 days ago
From my reading it is only equity that has monetary value that they are taxing; this has nothing to do with disgorging voting stock, it is merely intended to raise revenue.
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anamax 59 days ago
For private companies, valuation for the purposes of this tax is company-value * max(% owned, % controlled)

From https://oag.ca.gov/system/files/initiatives/pdfs/25-0024A1%2...

Section 50303(c)(3)(C) says "For any interests that confer voting or other direct control rights, the percentage of the business entity owned by the taxpayer shall be presumed to be not less than the taxpayer's percentage of the overall voting or other direct control rights."

Section (D) says that the tax applies to earnable profit-percentage even if the prerequisites for said earn haven't occurred.

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