Re: Prince Harry Faces Huge US Tax Bill
User logged in as Martha
The DM wrong??? I'm shocked! Shocked, I tell you.
Charles may be avoiding the gift tax by paying expenses directly, or it could be going into a trust with Harry as the trustee and being able to withdraw funds. But the Harkles have announced themselves to be financially independent, so who knows what the real arrangements are or how much money we're talking about.
Light reading: https://www.ftb.ca.gov/tax-pros/law/legislation/2019-2020/SB378-032519.pdf
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