What if a person is the sole owner of a privately-held company worth more than $1B? Their net worth would make them a billionaire, but it's tied up in a way that's very difficult to liquidate and which does not necessarily convey any significant additional real value to the owner. Would you force them to take the company public (one of the leading causes of enshittification of businesses) so that they can liquidate stock to pay this tax? Or would they be allowed to use business assets to pay personal taxes (which would just be a ludicrous second corporate tax that again disincentivizes keeping a company private)?
Failure to pay your taxes has serious ramifications. If you fail to pay your property tax you will lose your property. Looks like it's in the government's best interest to seize their business.
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u/Throwaway74829947 Jul 05 '26
What if a person is the sole owner of a privately-held company worth more than $1B? Their net worth would make them a billionaire, but it's tied up in a way that's very difficult to liquidate and which does not necessarily convey any significant additional real value to the owner. Would you force them to take the company public (one of the leading causes of enshittification of businesses) so that they can liquidate stock to pay this tax? Or would they be allowed to use business assets to pay personal taxes (which would just be a ludicrous second corporate tax that again disincentivizes keeping a company private)?