Re:IRS records reveal how the wealthiest avoid income tax
by pythonaut_16 on Wednesday June 09, 2021 @10:20AM
(#27448171)
You would declare a higher valuation and get taxed extra... all while still not preventing Jeff Bezos or anyone with sufficient wealth from swooping in and buying it.
Any item must be purchased at a +30% premium over the recorded value with that extra 30% going to the state if a sale occurs. So if you did want to hold onto something, you would declare a higher value and get paid extra.