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Story summary
- At a Newport Beach conference, tax lawyer Andrew Katzenstein advised wealth advisers on a proposed tax targeting billionaires.
- He humorously suggested divorce could be a strategy to avoid the tax, noting that splitting could exempt a couple with over $1 billion.
- Some tech executives are leaving California.
- Others seek ways to lower net worth while staying in the state.
- The discussion shows growing concern about California's tax implications.
